Singapore Personal Income Tax Discussed By Rikvin
Singapore’s taxes for individuals, entrepreneurs and corporations are regarded as one of the most competitive worldwide. For this reason, almost all types of entrepreneurs and professionals go to Singapore to either seek a career path in a Singapore company or setup their own companies instead. Becauseof this obvious noticeable market for filing services, Rikvin, a leading corporate solutions specialist in the country launch their service for Singapore personal income tax filing assistance. “The amount of income tax that you have to pay depends on your tax residency in Singapore. The taxes for residents are different from nonresidents. Top marginal resident tax rate of 20% kicks in at S$ 320,000 of taxable income while non-residents are taxed at the flat rate of 15% or the resident rates whichever results in a higher tax amount,” Rikvin said. Rikvin explained the qualifications of a tax resident in order to distinguish it from a non-resident. According to Rikvin, A tax resident is a natural Singaporean or Singapore adopts a progressive personal tax rates, relative to an individual’s amount of income; or foreigner who stayed/worked in Singapore for 183 days or more in previous year (excludes director of a company). “In general, all remuneration arising from an employment under which duties are performed in Singapore would be fully taxable irrespective of where the funds are made available to you. Besidessalaries and bonuses, perquisites such as housing and stock options will form part of your taxable employment income,” Rikvin concluded. About the Publisher: Rikvin has successfully provided foreign and local entrepreneurs assistance to form a Singapore company . The firm provides a full spectrum of corporate services under one roof for Singapore company registration , accounting, tax, work passand related compliance services for individuals and companies worldwide. Our office is located at Raffles Place, in the heart of the Singapore businessdistrict. ("CBD") If you are in our neighborhood and want to discussany aspect of our service then feel free to come in to our offices during businesshours. Appointments are welcome but definitely not necessary. Rikvin PTELTD 20 Cecil Street, #14-01, Equity Plaza, Singapore 049705 Main Lines: (65) 6438 8887
Fax (65) 6438 2436 http://www.rikvin.com
Published on Jun 15, 2011
Learn about Singapore Personal Income Tax – provided and presented by Rikvin, Singapore’s leading company registration firm and business so...