No, the Singapore Non-Resident Withholding Tax is different from the Singapore Goods and Services Tax ( “GST”). The Singapore Non-Resident Withholding Tax is imposed on applicable interest payments made by Interactive Brokers Singapore Pte. Ltd. (“IBSG”), whereas the GST is imposed on commissions paid by you. In general, IBSG is required by Singaporean law to charge GST on certain services provided by IBSG irrespective of the customer’s country of tax residence.
Additional Information
- The Inland Revenue Authority of Singapore (“IRAS”) website at https://www.iras.gov.sg/taxes/goods-services-tax-(gst)).
- What is the Singapore withholding tax on interest payments to non-residents (the “Singapore Non-Resident Withholding Tax”)?