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. 

  • The NOR scheme extends favourable tax treatment to qualifying individuals for a period of five consecutive years. A NOR taxpayer will enjoy the benefit of time apportionment of employment income, that is, he pays income tax on only that part of his employment income that corresponds with the number of days he spends in Singapore. In addition, the NOR taxpayer gets to enjoy tax exemption on contributions made by the employer to an overseas pension fund which would otherwise be taxable in his hands.
  • 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.