Non-taxable categories and exceptions
Interest from approved Singapore banks and licensed finance companies is not taxable. Debt-security interest is generally non-taxable except partnership holdings or trading inventory. Foreign interest is generally non-taxable except that earned by a partnership; interest from a foreign company’s Singapore branch is Singapore-sourced. Use the linked MAS lists to verify bank or finance-company status.
Taxable receipts and declaration
The source lists non-approved banks, unlicensed finance companies, pawnshops, loans to persons or companies, interest on excess employee CPF refunds and specified debt-security holdings as taxable. Declare the full taxable amount under “Other Income”. Non-taxable interest need not be declared.
Official source
A concise, independent Apex Gateway guide based on the official English source, not a reproduction of the complete document. Consult the original for full conditions, exceptions and subsequent updates.
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