You really shouldn't be spreading misinformation like this. It's simply false.tiktok wrote: ↑Wed, 06 Oct 2021 7:12 pmAFAIK you don't need to set up any company or sole proprietorship, you don't need to file tax returns or pay tax, and you don't even need to tell the government. See https://anza.org.sg/2018/04/26/the-set-up/
.gov.sg link?tiktok wrote: ↑Wed, 06 Oct 2021 7:12 pmAFAIK you don't need to set up any company or sole proprietorship, you don't need to file tax returns or pay tax, and you don't even need to tell the government. See https://anza.org.sg/2018/04/26/the-set-up/
You really shouldn't be spreading misinformation like this. It's simply false.tiktok wrote: ↑Wed, 06 Oct 2021 7:12 pmAFAIK you don't need to set up any company or sole proprietorship, you don't need to file tax returns or pay tax, and you don't even need to tell the government. See https://anza.org.sg/2018/04/26/the-set-up/
As I mentioned before on this site, this is not the case in Hong Kong. Residents who derive income from overseas are explicitly exempt from HK income tax. So it is not a hard and fast rule that you must always pay income tax.Myasis Dragon wrote: ↑Thu, 07 Oct 2021 11:34 pmOne thing is for sure... every country wants you to pay income tax somewhere.
Like many others on this board, you clearly don't understand what "overseas income" means. You should ask one of your lawyer friends... because... if you are earning a living while resident in Singapore, that's not overseas income, that's locally earned income, and simply because you are paid from a foreign source doesn't make it overseas income.tiktok wrote: ↑Fri, 08 Oct 2021 2:07 pmI certainly don't want to spread misinformation, but I have heard the opposite from several trustworthy real life people with regards to taxes. This includes a lawyer, and someone who was told this in a phone call with IRAS and recorded the conversation. I would love to find a definitive answer on a government website, but have been unable to.
As I mentioned before on this site, this is not the case in Hong Kong. Residents who derive income from overseas are explicitly exempt from HK income tax. So it is not a hard and fast rule that you must always pay income tax.Myasis Dragon wrote: ↑Thu, 07 Oct 2021 11:34 pmOne thing is for sure... every country wants you to pay income tax somewhere.
From the second link:Your foreign-sourced income (with the exception of those received through partnerships in Singapore) brought into Singapore on or after 1 Jan 2004 is tax exempt.
None of the above 4 points apply to the OP's situation as far as I can see.Overseas income is taxable in Singapore if:
a) It is received through partnerships in Singapore; or
b) Your overseas employment is incidental to your Singapore employment (i.e. as part of your job requirements, you are required to travel overseas).
c) You are employed Overseas on Behalf of the Singapore Government
d) You have a trade/business in Singapore and you are carrying on a trade/business overseas which is incidental to your trade carried out in Singapore.
Should your gains from your overseas employment be taxed in the foreign country/region, you may apply for double taxation relief, to avoid being taxed twice on the same income.
If you look at the common denominator of all the above points (except "c") you may notice that they de facto concern situations where one lives and earns in Singapore. And this is even the case when one is formally employed abroad. The income tax is a maintenance tax for local infrastructure and services so if one lives locally and uses these services and infrastructure to obtain her/his income it seems only logical the taxes should be paid. Of course a government could be very generous, but with rather significant and growing fraction of the income derived from online services this would be somehow strange and opening potentially rather huge loophole in the system.tiktok wrote: ↑Sun, 10 Oct 2021 12:41 pmSorry but I'm still not convinced. From the first link:
From the second link:Your foreign-sourced income (with the exception of those received through partnerships in Singapore) brought into Singapore on or after 1 Jan 2004 is tax exempt.
None of the above 4 points apply to the OP's situation as far as I can see.Overseas income is taxable in Singapore if:
a) It is received through partnerships in Singapore; or
b) Your overseas employment is incidental to your Singapore employment (i.e. as part of your job requirements, you are required to travel overseas).
c) You are employed Overseas on Behalf of the Singapore Government
d) You have a trade/business in Singapore and you are carrying on a trade/business overseas which is incidental to your trade carried out in Singapore.
Should your gains from your overseas employment be taxed in the foreign country/region, you may apply for double taxation relief, to avoid being taxed twice on the same income.
As for Hong Kong, I lived there for several years, tried my best to pay taxes on my overseas-sourced freelance income, but the government would not accept a cent. They are very clear about it, e.g. https://www.gov.hk/en/residents/taxes/s ... ployee.htm
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