Singapore Expats

Taxes for US citizens in Singapore?

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steffi
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Taxes for US citizens in Singapore?

Post by steffi » Tue, 02 Oct 2007 1:29 pm

So I've been offered a very competitive offer for an Investment Bank in an IT role. about over 150k SNG approx.

I would like to ask how US citizens handle their tax obligation back home.

For instance you can benefit from the 82k deduction but anything over there still is tax at the same bracket as it would be back in the US rather than considered the 1st taxable dollar you're earning.

How else do US citizens handle their tax in this regard?

What do companies offer to attract US citizens to Singapore?

How competitive is an offer of 150k+ SNG from the investment banking scene there? Is there going to afford you a good standard of living there?

If not what amount is?

Incassable
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Post by Incassable » Wed, 03 Oct 2007 9:58 pm

My two cents:
Based on $150k Sing which is $96K (US), after you deduct the ~15% Singapore tax, you will net $82k (US) per year. Based on housing costs here, it would be very hard not to qualify for getting at least a portion of the foreign housing exclusion/deduction. I believe you would probably come out pretty well with not having to pay much if any in U.S. taxes.

Regarding the standard of living it will afford you; not sure where you are coming from or your standards. Coming from Beijing just a few months ago, I am still shaking my sticker shock with housing, food, taxi, etc...

cd

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