Pls explain withholding tax law in Singapore

Question

Accepted Answer

Withholding tax is a tax deducted at source from payments made to non-residents for services rendered in Singapore.

Withholding tax rate is typically 15% but can vary depending on the type of payment and the tax treaty between Singapore and the non-resident's country
Payments subject to withholding tax include royalties, interest, technical services, and director's fees
The payer is responsible for withholding the tax and remitting it to the Inland Revenue Authority of Singapore (IRAS)
Non-residents can apply for a reduced withholding tax rate or exemption under certain conditions
Failure to withhold and remit the tax can result in penalties and interest charges

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Pls explain withholding tax law in Singapore

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