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working out of singapore

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Joined: Wed, 01 Sep 2004 7:04 am

working out of singapore

Post by astor » Wed, 01 Sep 2004 7:39 am

I am in the position where it might be possible for me to work out of singapore for international clients. Since I live in a high-tax jurisdiction in europe, working part of the year out of singapore could save me a lot of money, and thereby give me more time to spend on the things that I want to do in life. I can't believe the income tax rates in singapore are as low as they seem to be!

Does anybody relocate to singapore to avoid taxes?

Is anything set up for people who want do to this?

An ideal deal for me would be to be hired by a singaporean company and be fully on commision - basically paying them a handling-fee to be able to work out of singapore.

Are people doing this sort of thing?

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Posts: 182
Joined: Tue, 09 Sep 2003 6:39 pm

Tax haven?

Post by PhantomX » Wed, 01 Sep 2004 1:20 pm

SIngapore is a low income tax country
The fiscal burden is being shifted from direct to indirect taxes
So income taxes are low but indirect taxes add to the total bill unless you don't consume. However the choics is in your hands and at the end of the day, apart from the roof over your head and the car if any you wish to drive, the other consummables are not overly expensive. Publice transport in Singapore is cheaper than most other similar countries and efficient too
Yes it is a good idea to base yourself here to earn higher after tax income
However you would do well to check the tax laws in your country so that you may not be caught in global tax provisions which group your foreign income as assessable under your local country rates ala US USA and Australia. Some countries like Australia allow you to get out of the local tax loop if you demonstrate that you have no credible plan to return to earn a living in the country, But the evidence has to be fairly water tight as the authoritiies make it their business to scrutinize your submission closely.

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