Extension of Withholding Tax Exemptions for maritime sector incentive

21 Feb 2022 / Singapore

The following broad-based withholding tax (WHT) exemptions have been extended by five years in the recent Budget 2022:

Charter payments for ships
- Finance lease
- Beneficiary: MSI companies
- Extended until: 31 Dec 2028

Container lease
- Finance lease
- Beneficiary: MSI companies
- Extended until: 31 Dec 2028

Container lease
- Operating lease
- Beneficiary: All taxpayers
- Extended until: 31 Dec 2027

(For further details including scope and effective periods, as well as information about operations in Singapore, contact GAC Singapore at [email protected])

Source: Maritime and Port Authority of Singapore Shipping Circular No.2 of 2022 dated 18 February 2022

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