According to an update from the Inland Revenue Authority of Singapore, the administrative concession for Section 12(7)(b) and (c) services will be withdrawn with effect from 1 April 2018 due to low adoption. The concession allows local payers to apply a lower withholding tax rate on routine related party services performed in Singapore with a standard markup of at least 5%. The lower withholding rate is a final tax equal to the markup amount, times the standard 17% rate, divided by the gross…