{"id":7438,"date":"2022-05-17T19:31:35","date_gmt":"2022-05-17T11:31:35","guid":{"rendered":"http:\/\/www.biztreemgmt.com\/wordpress\/?p=7438"},"modified":"2022-09-26T14:39:58","modified_gmt":"2022-09-26T06:39:58","slug":"what-is-withholding-tax","status":"publish","type":"post","link":"http:\/\/www.biztreemgmt.com\/wordpress\/what-is-withholding-tax\/","title":{"rendered":"Non resident Director who received director fees"},"content":{"rendered":"\n<p><strong>Who is consider as Non resident director ?<\/strong> <\/p>\n\n\n\n<p>Non resident director refer to someone who do NOT have legal visa to stay long in Singapore . or who  stay in Singapore <strong>LESS THAN 183 days<\/strong><\/p>\n\n\n\n<p><strong>Is Employment Pass holder consider as Non resident director ? <\/strong><\/p>\n\n\n\n<p>No, because they have valid working visa in Singapore .<\/p>\n\n\n\n<p><strong>After received director fees, what need to be declare ? <\/strong><\/p>\n\n\n\n<p>WIthholding tax <\/p>\n\n\n\n<p><strong>What is withholding tax ?<\/strong><\/p>\n\n\n\n<p>Click <a href=\"https:\/\/www.youtube.com\/watch?v=xxNcZBhxh7w\">here <\/a><\/p>\n\n\n\n<p><strong> How to declare ? <\/strong><\/p>\n\n\n\n<p>A person must withhold and pay the withheld tax to IRAS when certain types of payment (e.g. interest, royalty, services etc.) are made to a non-resident.<\/p>\n\n\n\n<p>Before declaration of withholding tax, you need to confirm : <\/p>\n\n\n\n<ul><li>Approval date of the director fees<\/li><\/ul>\n\n\n\n<ul><li>Director fees amount <\/li><\/ul>\n\n\n\n<ul><li>Tax resident of the Company <\/li><\/ul>\n\n\n\n<p> Only Singapore tax resident  company is required to declare withholding tax <\/p>\n\n\n\n<p><strong>What is withholding tax rate ? <\/strong><\/p>\n\n\n\n<p>22 % ( will increase to 24% with effect from Jan 2023) <\/p>\n\n\n\n<p><a href=\"https:\/\/www.iras.gov.sg\/quick-links\/calculators\">calculator for withholding tax <\/a><\/p>\n\n\n\n<p><strong>What if local director received director fees ?<\/strong><\/p>\n\n\n\n<p>They will be tax based on local resident tax rate.<\/p>\n\n\n\n<p>L<strong>ist of Tax Obligation <\/strong><\/p>\n\n\n\n<p><a href=\"https:\/\/www.iras.gov.sg\/taxes\/withholding-tax\/payments-to-non-resident-director\/tax-obligations-for-non-resident-director\">Tax Obligation for Non resident director<\/a> <\/p>\n\n\n\n<p><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Who is consider as Non resident director ? Non resident director refer to someone who do NOT have legal visa to stay long in Singapore . or who stay in Singapore LESS THAN 183 days Is Employment Pass holder consider as Non resident director ? No, because they have valid working visa in Singapore .<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[395],"tags":[86,430,429],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v17.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>what is withholding tax, withholding tax rate, company director<\/title>\n<meta name=\"description\" content=\"What is withholding tax ? 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