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Personal taxation in Singapore

Streets of SingaporeSingapore Individual Residency
Taxpayer’s residency for tax purposes is to be determined. To be considered a resident of Singapore for tax purposes, an individual must be residing in Singapore and must be present in Singapore for at least 183 days during the preceding year.

Regardless of whether an individual is a resident, individuals are taxed only on Singapore-sourced income. Foreign-sourced income, even if remitted to Singapore, is not subject to income tax.

Dividends paid to an individual
Dividends paid to shareholders individual or corporate , residents or non-residents of Singapore are not subject to taxation in Singapore. There is no withholding tax on dividends paid by Singapore companies to non-resident shareholders.

Social Security Taxes
All employees, citizens & permanent residents in Singapore are required to participate in a social security savings : the Central Provident Fund (CPF). The contribution rate depends on the employee’s citizenship status, age and employer.

For more details: Singapore Taxation Law

To register a company in Singapore please visit www.Weisz-Offshore.com

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Posted by on May 14 2012. Filed under Personal Taxation. You can follow any responses to this entry through the RSS 2.0. You can leave a response or trackback to this entry

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