Withholding tax ("WHT") exemption on interest and related payments made in respect of loans obtained to finance the purchase of containers and intermodal equipment

To further promote the growth of the maritime sector, the automatic WHT exemption will, subject to conditions, be extended to qualifying payments made on or after 17 February 2012 in respect of qualifying financing arrangements entered into on or before 31 May 2021 to finance the purchase of qualifying containers and intermodal equipment.

 

Benefits

Qualifying entities which obtain qualifying financing arrangements are no longer required to apply for such exemption on a case-by-case basis during the period from 17 February 2012 to 31 May 2021¹.  

 

Who is eligible?

The exemption is available to entities awarded the following status under the MSI-Maritime Leasing (Container) award:
• MSI-ACIE; and
• MSI-ACIE (Local ASPV).

 

How to qualify

Entities are required to submit a self-declaration form (the “Form”) for each financing arrangement obtained to inform the relevant authorities that the qualifying conditions have been met.  The Form has to be submitted to the Maritime and Port Authority of Singapore by the 15th of the month following the first relevant payment due date to the non-resident.  A copy of the Form (which sets out the qualifying conditions for the automatic WHT exemption) can be downloaded from the link below.

 

For more information on the automatic WHT exemption, please email imc_mpa@mpa.gov.sg

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