Tuesday, November 29, 2011

MCT

MCT: Established arrangement with IRAS for tax refunds on over-deducted tax on income distributions. Individuals, to whom all distributions are tax exempt, or foreign non-individuals which are supposed to be taxed at reduced rate of 10%, will be eligible if they were taxed on their distributions at a higher rate. Details of the procedure are available on the SGX announcement page.

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