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How Do You Consider As A Singapore Tax Resident

How_Do_You_Consider_As_A_Singapore_Tax_Resident

Personal Tax for Singapore Residents

Different tax rates apply for tax residents and non-residents. Income tax rates depend on an individual’s tax residency status. You will be treated as a tax resident for the Year of Assessment (YA) if you are a:

  • Singaporean; or
  • Singapore Permanent Resident (SPR) if you have established your permanent home in Singapore; or
  • Foreigner who stayed/worked in Singapore for 183 days or more in previous year (excludes director of a company)

Personal Tax for Foreigners in Singapore

For foreigners working in Singapore, the following conditions are also applicable for the taxability of their income in Singapore:

  • If you work in Singapore for 60 days or less in a calendar year, you will be exempt from tax on your earnings in Singapore. This exemption does not apply to non-resident company directors, public entertainers, professionals including foreign experts, speakers, queen’s counsels, consultants, trainers, coaches etc.
  • If you stay or work in Singapore for 61 to 182 days in a calendar year, your income will be taxed at flat rate of 15% or the progressive resident tax rates, whichever is a higher tax amount.
  • If you stay or work in Singapore for 183 days or more in a calendar year, your income will be taxed at resident rates for individuals.
  • If you stay or work in Singapore for a continuous period of at least 183 days over two years, your income will be taxed at resident rates for individuals.
  • If you stay or work in Singapore for three consecutive years, your income for all years will be taxed at resident rates.

*Taxes on Director’s fee, Consultation fees and All Other Income

From YA 2017, the tax rates for non-resident individuals (except certain reduced final withholding tax rates) has been raised from 20% to 22% . This is to maintain parity between the tax rates of non-resident individuals and the top marginal tax rate of resident individuals.

Paul Hype Page & Co – Acra service provider and Asean Chartered Accountant.

Paul Hype Page & Co. have 3 physical offices in Singapore, Malaysia and Indonesia

Our Firm Goal is to assist Foreigner and Foreign Companies to set up business in Asean.

 

How we can help you:

We will call you back, please click below link and make appointment with our Sales consultant:

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Step 1- Listen to your Business plan and Relocation needs.

Step 2- Analysis your Singapore Tax Planning

Step 3- Recommend the most suited type of Company Incorporation , Open Bank account  and

Work Visa

Step 4- Arrange for your Spouse and Children Visa

Step 5- Assist as your company to hire staffs and handle all HR matters

Step 6-  Every financial year end, we assist you with your yearly Acra Financial and Tax Compliance

Step 7- Assist you to expand business to Malaysia, Indonesia , Vietnam and Thailand.

Get in Touch with Us Today.

Paul Hype Page

Website: www.paulhypepage.com