What is e-Submission of Commission?
If you have paid commission to any person who is not an employee of the company, you will need to provide the information on commission paid to IRAS. The information is to be provided using the e-Submission of Commission.
To use the e-Submission of Commission, please download the application form from http://www.iras.gov.sg/irashome/taxforms.aspx.
What are the information to be provided?
- Particulars of the recipient/earner of commission (Name, Identification Number, Nationality, Date of Birth and Designation)
- Gross commission
- Net Brokerage
- Contra Loss Offset
- Retention money deducted
Items 3 to 5 apply only to stock-broking companies.