inland revenue tax forms

What is taxable income

Almost all income earned in Singapore by a person or company is subject to tax on income. All sales transactions that occur in Singapore or funds received in Singapore are taxable. Taxable income includes income from your business, the salary employment, interest earned on deposits and rental income.

Income tax for foreigners Working in Singapore

Foreign employees working in France are considered residents for tax purposes and must therefore pay the tax, unless:

When a foreign worker plans to terminate his employment in Singapore, his employer is obliged to inform the Inland Revenue Authority of Singapore before the end of his employment or leaving Singapore. The employer must retain all monies owed to the employee until tax clearance is given.

Declarations revenue production

All residents of Singapore who work in Singapore or regulation must file for tax returns. Once completed tax return forms must be submitted to the Department Singapore tax on April 15 of each year. You do not have to pay of income tax if your annual income is below $ 22,000 SDG unless you have been specifically instructed by the tax authorities of Paris to present a tax return.

Gains

Singapore has no capital gains or investment income. For example, if you can buy and sell shares to Singapore, the benefit is not subject to tax. However, the dividends you earn units is considered income and therefore subject to tax.

Central Provident Fund (CPF)

Central Provident Fund is not a tax but a form of retirement savings account for Singaporeans and permanent residents. Employees and employers are required to contribute to their CPF accounts each month. Foreigners in the work comes in Singapore are exempted from contributions to the CPF in Singapore.

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