Foreigners/PRs withdrawing from Supplementary Retirement Scheme (SRS) Account

  • 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If a foreigner or Singapore Permanent Resident (SPR) has applied to withdraw from his SRS account, 50% or 100% of the withdrawn amount, depending on the type of the withdrawal will be subject to a withholding tax.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 $300,000 in his SRS account by the retirement age of 62, for example, and decides to withdraw the whole amount, he will be taxed on half of the amount withdrawn. SRS Withdrawn $300,000 Amount Subject To Tax 50% x $300,0