Announcement: Implement of Withholding Tax
We would like to bring to your attention that effective from September 2019 bonus month, the Company is required to withhold 17% as Withholding Tax from the income earned by our non-Singapore Citizen members. This tax will in turn to be paid to Inland Revenue Authority of Singapore (IRAS) in compliance with Income Tax Act. The deduction is applicable on every bonus payout and the 1st deduction will start from 20th October, 2019 local bonus payout.
Hence, the Company would like request all our non-Singapore Citizen members to file in a Declaration Form to state their tax resident status in Singapore. The form have to be submitted to us by 20th September, 2019.
The Declaration Form can obtain from our website or Customer Relation Team.
“Withholding Tax – is an amount of tax that required to withhold by the Company on income earned by a non-Singapore citizen”