Special Tax Schemes

If you work for a foreign employer and operate from a base in Singapore to discharge your regional functions and duties, you may enjoy time apportionment of employment income, subject to qualifying conditions. 

If you qualify for the NOR scheme, you may enjoy the benefit of time apportionment of employment income and tax exemption on contributions made by the employer to an overseas pension fund for five consecutive years, subject to qualifying conditions. 

^New! From Year of Assessment 2021, the NOR scheme will be lapsed. The last such NOR status will be granted in YA 2020 and expire in YA 2024. Individuals who have been accorded the NOR status will continue to enjoy NOR tax concessions until their NOR status expires, if they continue to meet the condition of the concessions.

The Supplementary Retirement Scheme (SRS) is a voluntary scheme to encourage individuals to save for retirement, over and above their CPF savings. Contributions to SRS are eligible for tax relief. Investment returns are tax-free before withdrawal and only 50% of the withdrawals from SRS are taxable at retirement.