It has been reported that withholding tax will no longer apply on management services rendered by non-residents entirely outside of Singapore on or after 29 December 2009, even if the service fees contain a mark-up element. Previously, the withholding tax did not apply only where the service fees represented a reimbursement of costs incurred by non-residents without any profit mark-up. It should be noted that management services rendered before 29 December 2009 and paid at a later date continue to be subject to withholding tax where they contain a profit mark-up element. This development follows the passing of the Income...