Singapore legislation

Clause 27

Amendment of section 45F

In section 45F of the principal Act —

(a)

in subsection (1), delete “subsection (2)” and substitute “subsections (1A) and (2)”;

(b)

after subsection (1), insert —“(1A) Subject to subsection (2), section 45 applies in relation to the payment of any income derived from Singapore during the period from 1 April 2023 to 31 December 2027 (both dates inclusive) by any person —

(a)

to an individual not known to the person to be resident in Singapore, for acting as an arbitrator;

(b)

to a qualifying mediator not known to the person to be resident in Singapore, for providing services of a mediator for a mediation —

(i)

that takes place in Singapore; or

(ii)

that would have taken place in Singapore but for the settlement of the dispute or withdrawal of the claim in question; or

(c)

to an individual not known to the person to be resident in Singapore, for providing the services of a mediator for a qualifying mediation —

(i)

that takes place in Singapore; or

(ii)

that would have taken place in Singapore but for the settlement of the dispute or withdrawal of the claim in question, as section 45 applies to any interest paid by a person (X) to another person (Y) not known to X to be resident in Singapore and, for the purpose of such application, any reference in that section to interest is a reference to such payment.”; and

(c)

delete subsection (2) and substitute —“(2) The deduction of tax under section 45 is at the rate of —

(a)

15% for the purpose of subsection (1); and

(b)

10% for the purpose of subsection (1A).(3) In this section, “arbitrator”, “qualifying mediation” and “qualifying mediator” have the meanings given by section 43(10).”.

Read in full context — Income Tax (Amendment) Bill →