Deemed exercised

Discuss about getting a well paid job or career advancement. Ask about salaries, expat packages, CPF & taxes for expatriate.
Post Reply
Pinshot
Member
Member
Posts: 27
Joined: Wed, 03 Feb 2016 5:58 pm

Deemed exercised

Post by Pinshot » Wed, 25 Apr 2018 2:14 pm

So I worked in SG for a year for an American company and got RSUs that only some have vested and that can’t be sold as company isn’t public.

Anyway I left Singapore a year ago and still work for the US arm. I got a note saying I must pay a huge sum on those RSU. Deemed exercised rule. I can’t pay at all as I have not made a penny from these stocks.

So my question is can I just ignore it? I will never return to SG.

Anyone else have experience with this? Do IRAS chase me overseas even knowing I didn’t make any money to deprive them?

I settled all other taxes before leaving Singapore. Company just never bothered to tell them about the RSU until a year too late and they never got a tax clearance for me as I understand

I would rather just ignore this whole thing...

User avatar
PNGMK
Moderator
Moderator
Posts: 8647
Joined: Thu, 21 Mar 2013 9:06 pm
Answers: 1
Location: Sinkapore

Re: Deemed exercised

Post by PNGMK » Wed, 25 Apr 2018 9:31 pm

1. Ignore it.
2. Ask the company to cancel the vesting (at a loss or parity) and report the loss to IRAS.
3. Engage someone here to explain to IRAS they are looking for something that doesn't exist.
I not lawyer/teacher/CPA.
You've been arrested? Law Society of Singapore can provide referrals.
You want an International School job? School website or http://www.ISS.edu
Your rugrat needs a School? Avoid for profit schools
You need Tax advice? Ask a CPA
You ran away without doing NS? Shame on you!

Post Reply
  • Similar Topics
    Replies
    Views
    Last post

Return to “Careers & Jobs in Singapore”

Who is online

Users browsing this forum: No registered users and 1 guest