Discuss about life in Singapore. Ask about cost of living, housing, travel, etiquette & lifestyle. Share experience & advice with Singaporeans & expat staying in Singapore.
-
PNGMK
- Moderator
- Posts: 9074
- Joined: Thu, 21 Mar 2013 9:06 pm
-
Answers: 10
- Location: Sinkapore
-
Quote
-
0
login to like this post
Post
by PNGMK » Tue, 08 Oct 2013 3:33 pm
zzm9980 wrote:PNGMK wrote:katbh wrote:I was wondering recently if the moving companies or the ports have some sort of notification system to tell the ICA and IRAS when people are leaving.
Two sets of families that I know, were stopped at the airport at Christmas and made to pay tax for the year (that was not due until April following year). Their EPs had not been cancelled and so IRAS should not have been notified, but both families had sent furniture/shipment to their own countries in the previous months. How would ICA have known?
Customs declaration with their FIN on it. I helped someone escape Singapore by shipping out their household AFTER they had left. (And yes, they did actually pay IRAS from offshore, they had other reasons to leave over night).
This is a bit disconcerting.
Educated guess only.
-
zzm9980
- Governor
- Posts: 6869
- Joined: Wed, 06 Jul 2011 1:35 pm
- Location: Once more unto the breach
-
Quote
-
0
login to like this post
Post
by zzm9980 » Wed, 15 Jan 2014 10:33 am
I just called IRAS and asked them about tax clearances, outstanding sums owed, and leaving Singapore.
From the horse's mouth:
When the company files an IR-21, IRAS will notify the company how much is owed. If the amount being withheld by the company is not sufficient to cover that amount, a notice of payment will be sent to the individual. There is a payment due date of 10 days in the future on that voucher. If you do not pay by the due date, then IRAS will file with ICA to prevent you from leaving Singapore. You are allowed to come and go from Singapore anytime after the IR-21 is filed, and if you owe money during the 10 days between notification and the payment due date.
-
PNGMK
- Moderator
- Posts: 9074
- Joined: Thu, 21 Mar 2013 9:06 pm
-
Answers: 10
- Location: Sinkapore
-
Quote
-
0
login to like this post
Post
by PNGMK » Wed, 15 Jan 2014 1:22 pm
I some money when the group I work for was bought by another group (NYSE listed public company taken over by another NYSE).
The transaction was "cashless option vesting". In other words I had options that vested due to the sale - the company arranged for this to be a cashless transaction for me - in other words I received the difference between the share price before the sale day and after the purchase. However in legal terms I paid for the shares and then they were sold by me to the new owners at a much higher price and I received obviously the difference.
Is this capital gain in Singapore? It would be in Australia and would be treated differently tax wise. What is the tax rate applicable? Any guesses?
-
-
Leaving Singapore - Tax Due...
Replies: 4
First post
Hi - I have a question on tax liability should i leave Singapore.
If i leave my pension fund will be paid back to me in a lump sum... Is that added...
Last post
I have cleared tax twice and had Pension cashed in 3 times.
I am PEP/EP holder and get CPF equivalent which is taxed as you go - it is clearly...
- 4 Replies
- 2280 Views
-
Last post by The Ref
Wed, 31 Jul 2019 2:17 pm
-
-
Online stock brokers in Singapore
Replies: 13
First post
Looking for experiences/suggestions/pros-cons for online stock brokers who will open trading accounts for US citizens living in Singapore, who do not...
Last post
Try Maybank. One of the lowest fee around.
It well established that Interactive Brokers offers the lowest fees here, and they are open to anyone,...
- 13 Replies
- 10332 Views
-
Last post by malcontent
Sat, 04 Nov 2023 11:46 pm
-
-
Singapore planning to boost the local stock market
Replies: 3
First post
Most of us here who invest, know that the SGX is a small pond with listings of companies caught on the wrong side of the 21st century. I'll be...
Last post
I wonder how much the GIC has dumped into Evergrande stocks and bonds.
- 3 Replies
- 4913 Views
-
Last post by Myasis Dragon
Wed, 29 Sep 2021 4:29 am
-
-
Tax resident and double tax for working remotely in Singapore
Replies: 9
First post
Hi my friend is currently on Dependant Pass, works remotely for a HK company, get paid in HKD to his bank account in Hong Kong. We would like to...
Last post
Mal, that's basically exactly what we do, in addition to sweeping out the obvious trash. We also do some sleuthing when we have time. Often times by...
- 9 Replies
- 6547 Views
-
Last post by sundaymorningstaple
Tue, 15 Feb 2022 6:39 pm
-
-
Dashi stock
Aanyone into Japanese cooking? What's the easiest way to make dashi stock?
- 0 Replies
- 1003 Views
-
Last post by abbby
Fri, 20 Mar 2020 11:41 am
Users browsing this forum: No registered users and 16 guests