Tax bill for Singapore immigrants

Article 1 Singapore Immigration Tax Description

In terms of personal income tax, Singapore immigrants implement a progressive tax rate system, and the personal income tax rate remains between 0-20% except for personal income tax relief. In Singapore, income from sources outside Singapore does not need to be taxed, and it is also exempt from capital gains tax and property tax. Anyone who lives in Singapore or performs his duties for 183 days becomes an immigrant resident of Singapore. Residents should pay income tax on their income generated or originated in Singapore or remitted abroad. Non-resident individuals who have been employed in Singapore for no more than 60 days in a calendar year are exempt from personal income tax, except those who are directors, entertainers and interns in Singapore. Non-resident individuals pay income tax at the rate of 15% only for their income obtained in Singapore, or at the resident individual income tax rate, whichever is higher, but may not apply for personal income tax reduction or exemption.

The collection scope of individual income tax for investment immigrants in Singapore includes employment income, business income, dividends, interest, pension, rent, royalties, insurance compensation income, property income and so on. Tax-free income includes pensions, pensions and gifts between individuals.

In terms of corporate tax, Singapore is one of the developed countries with the lowest corporate tax rate, only 17%. Income earned by local enterprises and foreign enterprises in Singapore, income from Singapore or overseas income earned in Singapore are subject to tax. When making tax assessment, it is based on the income of the previous year.

The Singapore government gives enterprises a one-time 20% corporate income tax rebate, with an upper limit of 6,543,800 yuan, or gives SMEs a cash subsidy of up to 5,000 yuan. According to the preferential plan for productivity and innovation, the tax deduction of enterprises' expenditures on six major projects is 400% of their expenditures, and the upper limit of each expenditure item is 400,000 yuan. In addition, enterprises can also get a cash subsidy of up to 30,000 yuan.

In addition, Singapore has no inheritance tax and is exempt from global double taxation. Singapore's advantage as a "tax haven" has attracted entrepreneurs from all over the world.

Extended reading: five ways to immigrate to Singapore

First, Singapore invests in immigrants.

Singapore investment immigration is Singapore's immigration policy, and it is definitely the first choice for entrepreneurs. Singapore immigration fee

Second, Singapore's skilled immigrants.

Skilled immigrants in Singapore do not recruit high-skilled immigrants. This kind of immigration is not what it is called. Skilled immigrants in Singapore need to obtain a work permit and then obtain permanent resident status in Singapore.

Third, Singapore entrepreneurial immigrants.

At first glance, entrepreneurial immigrants in Singapore are very similar to investment immigrants, but they are not the same. Entrepreneurial immigrants need to register a company and then exchange their business licenses for Singapore PR.

Third, self-employed immigrants in Singapore.

Self-employed immigrants refer to investors who set up a company in Singapore, first get a work permit in their own company, and then apply for PR after a certain period of operation and accumulation to realize family immigration.

Fourth, marriage immigration.

According to the laws of Singapore, anyone who marries a Singaporean citizen or permanent resident (male or female) is eligible to apply for permanent resident. At present, the Singapore Immigration Bureau is cracking down on fake marriages, and once found, it will directly cancel its permanent residence status.

The fifth category is also special immigrants.

Sponsored by the National Arts Council and other institutions, it helps foreign artists who have made outstanding achievements in their respective fields to obtain Singapore PR and make contributions to Singapore's cultural and artistic fields with their global influence.