Generally, overseas income received in Singapore on or after 1 Jan 2004 is not taxable and does not need to be declared. This includes overseas income paid into a Singapore bank account.
Exceptions : When is it taxable
Overseas income is taxable in Singapore if...
- It is received in Singapore through partnerships in Singapore.
- Your overseas employment is incidental to your Singapore employment. That is, as part of your work here, you need to travel overseas.
Example: You are a regional sales manager employed by a Singapore company. You are required to travel overseas frequently to oversee operations in regional countries. Your employment income is fully taxable in Singapore since your travelling is incidental to your Singapore employment.
Tax treatment in Singapore
As a Singapore citizen or tax resident in Singapore, the income from your employment exercised outside Singapore on behalf of Singapore government is deemed to have derived from Singapore.
All your gains from such employment (including overseas allowances) are taxable in Singapore.
Your employer will send your employment income details (including all allowances paid to you while you are working outside Singapore) to IRAS electronically.
The tax on overseas allowances will be remitted if applications for tax remission are approved by Ministry of Finance (MOF).
Tax treatment outside Singapore
Generally, your gains from such employment will not be taxed outside Singapore.
Your gains from such employment will be exempted from tax in the foreign country where you worked if there is:
In event that your gains from such employment are taxed in foreign country, you may apply for double taxation relief or tax remission in Singapore, to avoid being taxed twice on the same income.
Please approach your employer for clarification on application for tax remission.
How to report
You need to declare the taxable overseas income and your Singapore income (if any) under 'employment income' and 'other income' (whichever applicable) in your tax form.
If you do not have any income in the previous year, you still need to declare zero income in your tax form and submit it to us by 15 Apr.
Find out more about:
What to do before going overseas
- Pay your outstanding taxes, if any.
Find out more about how to pay.
- Update your overseas residential or mailing address. Find out more HERE.
- Let us know the period you will be away from Singapore.
- If you are paying your taxes by GIRO and you are unlikely to pay taxes in the future, please cancel your GIRO arrangement with us.
For enquiries, you may call 1800-356 8300 or email us.
Visit the Overseas Singaporean Portal for information, features and news from Singapore while you are overseas.