Withholding Tax - 54th Run

Withholding tax, a tax on payments made to non-residents including employees, business partners and overseas agents, is an area often overlooked by businesses. Gain an understanding of withholding tax and how it affects your business in the introductory Withholding Tax workshop that will shed light on the types of payments that are subject to withholding tax as well as the compliance requirements.

Key Topics

• What is withholding tax
• Types of payment subject to withholding tax:

1. Interest
2. Royalties
3. Technical assistance fees
4. Rent from movable property
5. Directors' remuneration
6. Non-resident professionals
7. Non-resident public entertainers

• Concept of permanent establishment
• Certificate of residence
• Deemed sources of income - section 12
• Administrative procedures - sections 45, 45A
• Withholding tax & e-commerce transactions
• Rights-based approach for characterising software payments & payments for the use of/or the right to use information and digitised goods
• Withholding tax and double taxation agreements
• Waiver of withholding tax
• Date of payment of withholding tax
• Using tax calculators on withholding tax
• Penalties for non-compliance
• Case studies
• Latest updates from IRAS