As a Singapore-based financial data provider, Twelve Data is committed to helping our US clients understand their tax obligations and compliance requirements when using our services.
Our tax status
Twelve Data is a foreign corporation incorporated and organized under Singapore law. As such, we are not subject to US domestic tax rules that apply to US entities.
Tax documentation
✅ Form W-8BEN-E (what we provide): For US clients who require tax documentation, Twelve Data provides Form W-8BEN-E (Certificate of Status of Beneficial Owner for United States Tax Withholding and Reporting - Entities). This form:
Certifies our status as a foreign entity
Establishes our Singapore tax residency
Helps US clients determine the proper tax treatment of payments to Twelve Data
❌ Form W-9 (not applicable): Some clients request Form W-9, but this form is exclusively for US entities, US citizens, and US residents. As a Singapore-based foreign corporation, Twelve Data cannot and should not complete Form W-9. Using the wrong form could create tax compliance issues for both parties.
Key points for US clients
No treaty benefits available: Singapore does not have a comprehensive income tax treaty with the United States that provides reduced withholding rates. However, most payments for financial data services are typically not subject to US withholding tax, regardless of treaty status.
Your responsibilities: As our US clients, you may need to:
Retain our W-8BEN-E form for your records (valid for 3 years)
Report payments to us on appropriate tax forms if required
Consult with your tax advisor regarding the specific treatment of payments to foreign service providers
Service classifications
Our financial data services typically fall under business services income, which is generally not subject to US withholding tax when provided by foreign entities like Twelve Data.
Getting documentation
If you need a completed Form W-8BEN-E from Twelve Data for your tax compliance purposes, please contact our support team. We're happy to provide the necessary documentation to help you meet your US tax reporting obligations.
This information is provided for general guidance only and should not be considered tax advice. Please consult with qualified tax professionals regarding your specific situation and compliance requirements.