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Renounce Singapore Citizenship

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x9200
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Postby x9200 » Mon, 19 Apr 2010 11:05 am

Mad Scientist wrote:
x9200 wrote:Isn't such withdrawal of the CPF contribution subject to the income tax?


No, CPF money earning interest in CPF Board is NOT SUBJECT TO TAX in SG.

I mean not only the interests, also the very contribution... but according to the CPF webpage it is indeed tax free. Somehow surprising as the contribution (involuntary) is exempted from the income tax so it would make sense to pay the tax if one decides to permanently leave the country claiming all these not earlier taxated money.

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Mad Scientist
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Postby Mad Scientist » Mon, 19 Apr 2010 2:58 pm

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Last edited by Mad Scientist on Wed, 20 Oct 2010 7:56 am, edited 1 time in total.
The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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x9200
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Postby x9200 » Mon, 19 Apr 2010 5:03 pm

Mad Scientist wrote:
x9200 wrote:
Mad Scientist wrote:
x9200 wrote:Isn't such withdrawal of the CPF contribution subject to the income tax?


No, CPF money earning interest in CPF Board is NOT SUBJECT TO TAX in SG.

I mean not only the interests, also the very contribution... but according to the CPF webpage it is indeed tax free. Somehow surprising as the contribution (involuntary) is exempted from the income tax so it would make sense to pay the tax if one decides to permanently leave the country claiming all these not earlier taxated money.


That is NOT True. It is tax free under IRA guideline. So if you are withdrawing for reason of renounciation, the money , you will get the full amount if all other owing to the Gahmen is settled. I have done this myself and the only concern is your new country on how they perceive this money that you have got.

Now I am lost. What is NOT true? I thought I just repeated your statement and added one comment :-)

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Postby sundaymorningstaple » Mon, 19 Apr 2010 5:35 pm

That's okay, I got confused at your 2nd post as well. The double-speak got me turned around as well. I think it was because MS's answer was so complete. "No" It didn't give room for additional statements so when you came back with another question it initially appeared to me that you were disagreeing with him. Three reads later, I figured it out. :wink:

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Postby Mad Scientist » Mon, 19 Apr 2010 6:18 pm

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The positive thinker sees the invisible, feels the intangible, and achieves the impossible.Yahoo !!!

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Postby papamama » Sun, 24 Oct 2010 6:41 am

Hi i need some advise, i had send my renunciation of sg citizenship in early august to ICA and now is already 10 weeks passed but still no news yet from the ICA, what should i do??

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Postby sundaymorningstaple » Sun, 24 Oct 2010 7:37 am

You have two choices......

1/ wait.

2/ call ICA and ask.

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ksl
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Postby ksl » Sun, 24 Oct 2010 2:36 pm

papamama wrote:Hi i need some advise, i had send my renunciation of sg citizenship in early august to ICA and now is already 10 weeks passed but still no news yet from the ICA, what should i do??
ask of course, though i wonder what would happen if the Country says you cannot renounce your citizenship


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