If you’re investing in US-domiciled exchange-traded funds (ETFs), you may be incurring more taxes than necessary. This includes popular ones like QQQ or VOO whose dividends are generally subject to a 30% US dividend withholding tax for Singapore investors.
This means that for every US$1 of dividend your ETFs distribute, you will receive only US$0.70 of it. The remaining US$0.30 goes to Uncle Sam.
There is a relatively simple way to reduce this tax exposure, and that’s through investing in Ireland-domiciled ETFs.
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What are Ireland-domiciled ETFs?
As the name suggests, Ireland-domiciled ETFs are funds which are set up and registered in Ireland. Due to a tax treaty between US and Ireland,
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