Taxation

Naomi, who is not tax resident in Singapore, derived interest income from deposit placement with Citibank Singapore, an approved bank in Singapore. The interest earned by Naomi will be subject to Singapore tax at 1) 10% 2) 15% 3) 17% 4) 0% as it is tax exempt Question 19 (2 points) Noom Inc, a company with no operations in and not tax resident in Singapore, derived interest income from a loan given to City Pte Ltd, a company tax resident in Singapore. The interest earned by Noom Inc will be subject to Singapore tax at 1) 10% 2) 17% 3) 15% 4) 0% as it is tax exempt 1) Question 20 (2 points) David, a tax resident of Singapore, rents an apartment from an individual who is not tax resident in Singapore. Which of the following statement is TRUE? David needs to withhold tax of 10% on the rental payment made to the non- resident landlord. David needs to withhold tax of 15% on the rental payment made to the non- resident landlord. David needs to withhold tax of 22% on the rental payment made to the non- resident landlord. David does not need to account for withholding tax on the rental payment. 3)