All about taxes for expats in Singapore

Hi everyone,

Taxation is an important subject, especially when you are an expatriate in Singapore. We would like to know what you think about the tax system in your host country. This could be helpful to other people preparing for expatriation in Singapore.

How to do your tax return in Singapore? Are there different steps beforehand and if so, what are they?

Is it easy or did you have to get help to complete it?

Are there any important elements that should be taken into account when doing your tax return in Singapore?

If you are self-employed, do you need an accountant to do your tax return?

Is there a non-double taxation agreement with your home country? In any case, do you have to pay taxes there as well?

Thanks for your contribution!

Diksha,
Expat.com team

Taxation in Singapore is extremely clear and efficient - and the tax rates are low.
There are no income taxes deducted at source. Rather, after the calendar year ends, your employers report the required numbers directly to IRAS - and then your tax bill for the previous year is calculated, which you can pay at once or in instalments.
Investment income is tax-free in most cases (only interest and dividends are taxable), as is income for work performed outside of the country - which may be of interest to employees who spend considerable time on foreign assignments.
If a foreigner resigns, the employer must withheld the last month salary, pay any outstanding tax due from that and return the remainder (if any) to the ex-employee. It is important to keep in mind, before you resign, that you'd receive no money in the last month (and less later).

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