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What is the interest withholding rate between Canada and Singapore?
Under the Canada-Singapore tax treaty, the withholding rate on interest is 15%. Certain types of interest (such as government bonds) may qualify for additional exemptions under specific treaty articles. This 15% rate compares to a median of 10% across Canada's 51 active treaty partners, and 7% across Singapore's 42 active partners.
Network Comparison
Canada
Rank 49 of 51 active treaties (lowest rate = #1)
Lower rates with: Peru (15%), Philippines (15%), Pakistan (15%)
Higher rates with: Thailand (15%), Turkey (15%)
Singapore
Rank 39 of 42 active treaties (lowest rate = #1)
Lower rates with: Vietnam (10%), Italy (12.5%), Pakistan (12.5%)
Higher rates with: Egypt (15%), India (15%), Philippines (15%)
Important: Treaty rates require proper claim forms (e.g., IRS Form W-8BEN for U.S. treaties, HMRC DT-Individual for U.K. treaties, CRA Form NR301 for Canadian treaties) filed before payment. Limitation on Benefits (LOB) provisions may restrict eligibility. A 0% withholding rate does not mean no tax — the residence country may still tax the income. This is not tax advice.