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Daily Tax Report: International

Singapore Tax Agency Explains Taxation of Investment Holding Company Pension, Provident Fund Contributions for Employees

Oct. 8, 2019, 6:50 PM

The Singaporean Inland Revenue Authority Sept. 9 clarified that eligible employees of an investment holding company may claim concessional tax treatment on their employer’s contributions to an overseas, non-mandatory pension or provident fund, as long as the employer did not claim a deduction for the contributions. Employees may submit a Not Ordinarily Resident form for the tax authority’s review and re-assessment if the employer: 1) did not claim a deduction for contributions made on or after Jan. 1, 2014; and 2) stated on its tax return that it was not claiming a deduction for the relevant tax year. [Singapore, Inland...

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