Thailand Withholding Tax under the Singapore DTA
Tax Insight | February 2016
On 15 February 2016, the Governments of Singapore and Thailand ratified a re-negotiated Double Tax Agreement (DTA), which enters into effect as from 1 January 2017.
Thailand corporate payers of income to Singapore residents need to note that the new DTA provides additional relief from Thailand withholding tax (some of them surprising) as well as denying relief from Thailand withholding tax.
A summary of the withholding taxes that Thailand corporate payers are required to deduct from Singapore corporate residents under the new DTA from 1 January 2017 is as follows:
Article 5 - Permanent Establishments
Article 6 - Income from Immovable Property
Article 7 - Business Profits Income
Article 8 - Shipping and Air Transport
Article 10 - Dividends
Article 10A - Branch Remittances
Article 11 - Interest
Article 12 - Royalties
Article 13 - Capital Gains
This Tax Insight is general information only. It should not be used to determine any particular matter without consulting with an experienced Thailand tax advisor.