Tax info

[CB]

Looking for general guidelines about leaving Singapore ie cancelling EP and clearing taxes.

Thanks!

[HNL]

Your employer is supposed to submit IR21 to IRAS 1 month before the date of your cessation.  Furthermore, the employer is supposed to withhold the last month wage to make sure you pay the tax owed.  IRAS gets back to you with the tax figures within a few weeks.  Hope this helps.

[joe]

here's one slight trap i fell into ... infact it is not the last months wages they have to withold .. it's all outstanding monies owed to you ... if you time this right then it should amount to one months wages they keep back ... but in my case i tendered slightly too early and they kept back 2 months pay and alot of unused holiday in lieu ... of course in the end they released all of it to me (less taxes owed) but it did mean I was seriously broke -- lucky i was remaining in singapore and not trying to pay for airflights home

[bonus]

joe's right they are also supposed to hold back any bonuses owed to you. tax clearance is pretty quick by global standards, especially if your company has someone they can engage to help