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Topic: Employment and taxes (Read 633 times)
taxes
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Employment and taxes
«
on:
22 December 2011, 5:11:59 am »
Quote
I will be relocating to Singapore in July of 2012 with my family. My wife has accepted an expat assignment with her company that will keep us in Singapore for a couple years. I have been offered the opportunity to continue with my employer as a sales consultant. I will be responsible for acquiring new business in Asia, Europe and Australia. Singapore is a very small market for the software I will be selling so most of the business will be coming from other parts of the world. All of my compensation will be deposited into an account is the states. My question... what is my tax liability in the US and in Singapore?
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ExpatSingapore Message Board
Employment and taxes
«
on:
22 December 2011, 5:11:59 am »
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beppi
Jr. Member
Posts: 72
Re: Employment and taxes
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Reply #1 on:
24 January 2012, 7:35:25 am »
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All income paid for work carried out while you are based and employed in Singapore is taxable here, no matter where and how it is paid. You will need an EP or, if you have a DP through your wife, a LOC from MoM to do any work here, otherwise it's illegal (and breaking rules in Singapore is NOT a good idea!).
(I have no idea about USA tax liabilities, as I'm not from there.)
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Reality Too
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Re: Employment and taxes
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Reply #2 on:
25 January 2012, 10:10:31 am »
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Singapore does give tax concessions if you travel outside of Singapore to work abroad but you have to document the dates and it has to be a min of something like 90 days per calendar year.
You could, of course, also just get a dependant's pass as your residency status here and then just do your job and not declare to Singapore. Some risk involved, also.
For the US...welcome to being an American and the only developed nation in the world with a 100% global income tax structure. You must declare to the IRS and, since you won't be a Singapore tax resident for 2012 (not enough time away) you will pay full income taxes on it.
For 2013, when you are not a tax resident of the US, a concession will be given but you still need to declare.
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