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tax for EP holder

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habib_isi
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Re: tax for EP holder

Postby habib_isi » Sat, 12 Dec 2015 11:31 pm

Hi there,

If I am an EP holder, do I get taxed 15% on my monthly income and bonus based on the website of IRAS?

What would be the tax percentage like for salary income of 12,000k - 13800k/month for EP holder?

I am contract staff, my contract will approximately 1 year till end 2016

habib_isi
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Re: tax for EP holder

Postby habib_isi » Sat, 12 Dec 2015 11:33 pm

please anyone expats share some info
appreciate for your help

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ecureilx
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Re: RE: Re: tax for EP holder

Postby ecureilx » Sat, 12 Dec 2015 11:36 pm

habib_isi wrote:Hi there,

If I am an EP holder, do I get taxed 15% on my monthly income and bonus based on the website of IRAS?

What would be the tax percentage like for salary income of 12,000k - 13800k/month for EP holder?

I am contract staff, my contract will approximately 1 year till end 2016

There is a tax calculator in the IRAS website for you to calculate an approximate number.

Did you use that ?

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sundaymorningstaple
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Re: tax for EP holder

Postby sundaymorningstaple » Sat, 12 Dec 2015 11:53 pm

When did you start this contract? If you started it after July 1st, yes there is a possibility that you can be treated as a non-resident for the year 2015. If they do that, you will be taxed at a flat 15% of your gross income for earning during 2015. (I'd put that amount aside as it will be a pretty big chunk if they do). However, once you have been here more than 183 days even if it straddles two years, you can file an amended return and they will remit back to you the difference. If your EP is for 12 months, there is a good possibility that you could be taxed at resident rates from the start (lot's are if their EP are for 12 or more months - but it is NOT a requirement that they do so), which as noted, can be found on the IRAS site.

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Re: tax for EP holder

Postby habib_isi » Sun, 13 Dec 2015 8:16 am

My EP application approved
my employer did declared 6 month approximately

i just received reply from mom to do fingerprint

therefore it will start after i settle everthing regarding on MOM requirement

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sundaymorningstaple
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Re: tax for EP holder

Postby sundaymorningstaple » Sun, 13 Dec 2015 10:39 am

There is a high probability that you WILL be taxed at 15% for the year ending 2015 and if your contract DOES finish in less than 6 months, you will be taxed at 15% for the whole contract. You better hope your stay here is longer than 183 days total so you will qualify for the resident tax rate. If you do qualify for resident rates, if you have been holding back 15% of your salary for taxes you will have a nice little savings bonus. If you don't hold it back, hoping for the resident rates, you might be shafted royally.

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Re: tax for EP holder

Postby habib_isi » Sun, 13 Dec 2015 12:01 pm

what is range of tax percentage for resident

my employer pay salary based on day rate which is SGD600 per day and pay through my company, the employer hold tax about 5% witholding tax

i really new here i really not understand

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ecureilx
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Re: RE: Re: tax for EP holder

Postby ecureilx » Sun, 13 Dec 2015 8:00 pm

habib_isi wrote:what is range of tax percentage for resident

my employer pay salary based on day rate which is SGD600 per day and pay through my company, the employer hold tax about 5% witholding tax

i really new here i really not understand


Range for tax resident is in the IRAS website, look for TAX CALCULATOR on that site.

There is NO WITHHOLDING TAX in Singapore. And if the employer is holding 5%, still it if you who has to pay it. Wether its per the tax calculator or flat 15%, its yours to pay.

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Re: tax for EP holder

Postby habib_isi » Sun, 13 Dec 2015 8:36 pm

ok thanks sir

what is the tax relief for me to take consideration

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ecureilx
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Re: RE: Re: tax for EP holder

Postby ecureilx » Sun, 13 Dec 2015 9:22 pm

habib_isi wrote:ok thanks sir

what is the tax relief for me to take consideration

https://www.iras.gov.sg/irashome/Quick- ... lculators/

Hope that really helps !!

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sundaymorningstaple
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Re: tax for EP holder

Postby sundaymorningstaple » Sun, 13 Dec 2015 11:01 pm

How much did you say you were being paid? And you cannot understand the IRAS website which is written for local N level holders? :???:

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Re: tax for EP holder

Postby x9200 » Mon, 14 Dec 2015 7:02 am

I noticed that the number of such people (FT) was recently (1-2y) significantly reduced, at least by the frequency they appear on this forum. Looks like the gov measures started to work. As they are known to read this forum, perhaps they will improve it further.

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ecureilx
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Re: tax for EP holder

Postby ecureilx » Mon, 14 Dec 2015 9:29 am

sundaymorningstaple wrote:How much did you say you were being paid? And you cannot understand the IRAS website which is written for local N level holders? :???:


I was tempted to say that, but kept quite :D

England not so powderful :P


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