Withholding Tax for Non-Singaporean SRS Account Holders If a foreigner or Singapore Permanent Resident (SPR) has applied to withdraw from his SRS account, 50% or 100% of the withdrawn amount, depending on the type of the withdrawal will be subject to a withholding tax. Requirements for SRS Operators The SR
If a foreigner or Singapore Permanent Resident (SPR) has applied to withdraw from his SRS account, 50% or 100% of the withdrawn amount, depending on the type of the withdrawal will be subject to a withholding tax.
The SRS Operator should:
*Note 1: Effective 1 Jul 2014, the concessionary withholding tax rate of 15% will apply if the following conditions are met:
To enjoy this concession, the SRS account holder must declare that he fulfills the two conditions above using the Form IR37B(1) (63KB).
If you are a foreigner or SPR seeking tax clearance and you have made SRS contributions or withdrawals in the current year, please submit the standardized SRS Statement of Contribution/Withdrawal (for tax clearance) (61KB), endorsed by the SRS Operator, to IRAS.
IRAS will take into account your SRS contributions or withdrawals in your tax assessments.
The SRS Operator will undertake to withhold tax at the prevailing non-resident tax rate should a non-Singaporean SRS account holder need to withdraw the current year's SRS contribution within the year of tax clearance.
61KB, DOC
82KB, DOC
63KB, DOC
39KB, PDF