Market Taxation Guide - Singapore

03.02.2017

This Market Taxation Guide (Singapore) provides the following details:

  • Reference information about all taxes applied at source, through Clearstream Banking and its local depositories, to securities deposited in Clearstream Banking; and
  • Instructions for obtaining relief at source or a refund of withholding tax, where these are available, through Clearstream Banking.

New and improved tax information and procedures that become available will be included on an ongoing basis.

Important note:

This Market Taxation Guide (including any attachments and other links) is for informational purposes only and is not intended and should not be considered to be legal advice on any subject matter. Readers of this Market Taxation Guide, whether customers or otherwise, should not act or refrain from acting on the basis of any information included in this Market Taxation Guide without seeking appropriate legal or other professional advice. Copies of the content (in paper or electronic form) may be delivered to a third party for personal use only.

Withholding tax

Note: Relief at source and reclaim of withholding tax on income from Singapore securities are not available through Clearstream Banking.

Corporate bonds

Holding
restriction

Withholding
tax rate

Relief
at source

Quick
refund

Standard
refund

Yes

0% (but 15% for non-Qualified Debt Securities)

Clearstream Banking does not provide tax Relief at source, Quick or Standard refund services for Singapore.

No

No

No

Government bonds

Holding
restriction

Withholding
tax rate

Relief
at source

Quick
refund

Standard
refund

Yes

0% (but 15% for non-Qualified Debt Securities)

Clearstream Banking does not provide tax Relief at source, Quick or Standard refund services for Singapore.

No

No

No

Monetary Authority of Singapore (MAS) Bills

Holding
restriction

Withholding
tax rate

Relief
at source

Quick
refund

Standard
refund

Yes

0%

No withholding tax is imposed on interests paid from Singapore MAS Bills in Clearstream Banking.

N/A

N/A

N/A

Equities

Holding
restriction

Withholding
tax rate

Relief
at source

Quick
refund

Standard
refund

Yes

0%

No withholding tax is imposed on dividends paid from Singapore Equities in Clearstream Banking.

N/A

N/A

N/A

Real Estate Investment Trusts (REITs)

Holding
restriction

Withholding
tax rate

Relief
at source

Quick
refund

Standard
refund

Yes

17%

Clearstream Banking does not provide tax Relief at source, Quick or Standard refund services for Singapore.

No

No

A tax reclaim service is available in certain circumstances; refer to announcement A17035 for details.

Clearstream Banking does not provide tax Relief at source, Quick or Standard refund services for Singapore. A tax reclaim service is available on dividends paid from Singapore REITs in certain circumstances only. Customers are advised to engage a local tax consultant for all tax related matters according to market practice.

Capital gains tax

There is no capital gains tax withheld through Clearstream Banking on securities held in Clearstream Banking. Capital gains tax may however be payable on specific gains. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Stamp duty

There is no stamp duty withheld through Clearstream Banking on securities held in Clearstream Banking. Stamp duty may however be payable on specific transactions. Clearstream Banking does not assist in this regard. Please consult your tax advisor for further information.

Notes on tax reclaims

Customers warrant the completeness and accuracy of the information they supply to Clearstream Banking.

It is the customer's responsibility to determine any entitlement to a refund of tax withheld, to complete the forms required correctly and to calculate the amount due. Clearstream Banking is under no obligation to carry out any investigation in respect of such information.

With respect to tax reclaims in general, customers are reminded that Clearstream Banking accepts no responsibility for their acceptance or non-acceptance by the tax authorities of the respective country.