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Reducing Taxable Income from Salary

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ssahmed2018
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Reducing Taxable Income from Salary

Postby ssahmed2018 » Mon, 11 Jun 2018 3:24 am

Hello All,

I am trying to better understand the Income Tax regs for Foreigners/Expats working in SG on an EP.

With regards to Salary income:
1) What sorts of tax rebates are available to an individual Expat on an EP? What if the individual has dependants (spouse + kids)?
2) What sort of other expenses / charges could be used to reduce Taxable Income?

To clarify, this is in the context of a full-time, "permanent" Salaried position with a Singapore-based company.

I would like to understand available options to reduce Taxable Income.

Thanks.


Salman Ahmed

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Re: Reducing Taxable Income from Salary

Postby Strong Eagle » Mon, 11 Jun 2018 4:54 am

ssahmed2018 wrote:Hello All,

I am trying to better understand the Income Tax regs for Foreigners/Expats working in SG on an EP.

With regards to Salary income:
1) What sorts of tax rebates are available to an individual Expat on an EP? What if the individual has dependants (spouse + kids)?
2) What sort of other expenses / charges could be used to reduce Taxable Income?

To clarify, this is in the context of a full-time, "permanent" Salaried position with a Singapore-based company.

I would like to understand available options to reduce Taxable Income.

Thanks.


Salman Ahmed


There are virtually no deductions available to you to reduce taxable income.

https://www.iras.gov.sg/irashome/Indivi ... onations-/

Then again, tax rates are generally much lower than other countries.

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Re: Reducing Taxable Income from Salary

Postby PNGMK » Mon, 11 Jun 2018 10:33 am

The most significant tax deductibles for you will be SRS and possibly insurance policies.

You can't claim much else as a none SC/SPR.

Google SRS etc if you don't know what it is.
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