Singapore: Withdrawal of Administrative Concession for Employer’s Contribution to Mandatory Pension/Provident Fund
28 October 2022
Employer’s contributions to any overseas pension plan or social security scheme are taxable benefits to the employees that the employer must report to the Inland Revenue Authority of Singapore (IRAS). However, such benefits may be exempt from tax in the hands of the employees if certain conditions are satisfied. The administrative concession will be removed soon. Download the newsletter to learn more.