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Singapore Confirms Non-Resident Tax Rate Changes

by Mary Swire, Tax-News.com, Hong Kong

17 June 2015


The Inland Revenue Authority of Singapore has confirmed the new income tax rates that will be in effect for non-resident individuals with effect from the 2017 year of assessment (YA).

Tax rates for non-resident directors (except certain reduced final withholding tax rates) will be raised from 20 percent to 22 percent from YA2017, i.e. for income earned between January 1 and December 31, 2016. Rental income will be subject to the same rate.

For professionals, the rate is either 15 percent of gross income or 22 percent of net income (increased from 20 percent).

Non-resident public entertainers will be continue to be subject to a 10 percent rate.

The increase has been introduced to maintain parity between the tax rates of non-resident individuals and the top marginal tax rate of resident individuals, which is also being raised by two percent at the same time.

TAGS: individuals | tax | entertainers | employees | Singapore | professionals | tax rates | individual income tax | services | Tax

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