The short answer is no. Although I am not a tax expert, I have invested in local and foreign stocks long enough to know something about dividend tax as an individual. I believe most of Singapore’s tax system are inherited from the British. As an ex-colony of the British empire, it is easier for our government to inherit the law and make changes along the way than to start everything from scratch. I can’t help to draw this conclusion because of the uncanny similarity in which ex-British colonies approach dividend taxation – Hong Kong, Singapore, Malaysia and Myanmar have no dividend tax like the UK. Singapore practises the one-tier corporate tax system. This means that as long as the company pays its corporate tax, the subsequent distribution of dividends to individuals would not be taxed anymore. Is there dividend tax in REITs? No. There is no dividend tax for

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