As cities go, Singapore offers the expatriate one of the finest lifestyles in the world, borne out by surveys that rank it in the top 10 metropolises for quality of life.
With one of the best public transport systems in the world, excellent communications and top class healthcare facilities, coupled with a multiethnic and cosmopolitan culture that promotes tolerance and a good standard of life for its citizens, Singapore is a place to feel safe, a home from home.
Prudent measures by the government have ensured a stable economy with a comparatively low inflation rate, and therefore a relatively inexpensive cost of living
As a springboard to a career in the region, expats will find a business-friendly and stable economy with tight inflationary measures and favourable conditions for foreign investment. As an added bonus, English is the spoken language of business. The big names in business and trade have their regional headquarters and corporate offices in Singapore, making it the ideal destination for networking and professional opportunities.
Raising children here is also ideal for parents who can rest in the knowledge that the city is crime free, clean and safe. The many international schools provide the best education money can offer, with school fees usually paid by the employer.
Even though nearly 50% of the city is occupied by dense high rises and soaring sky skyscrapers, expatriates will find that the government has balanced the concrete jungle with natural flora and fauna by establishing beautiful botanical gardens, zoos, waterfalls and underwater parks.
All expatriates working in Singapore are liable to pay Singapore Income Tax. The country’s well regulated tax systems is overseen by the Inland Revenue Authority of Singapore (IRAS), which assesses, collects and enforces taxes, duties and levies.
Non-residents are taxed only on income derived from or accrued in Singapore and do not have to pay taxes on foreign income received in Singapore. Personal income tax rates are generally lower than in other developed countries with residents taxed between 2 - 28% of their income and non-residents at a flat rate of 15% on income without personal benefits or at the graduated rate applied to residents (whichever is higher). Non-residents are also taxed a flat rate of 27% on non-employment income derived from within the country. Tax returns are based on the calendar year and must usually be filed by 15 April.
Go to: Expat Arrivals for more information on Singapore
Contact Creative Tax Recruitment for greater details on the Singapore Tax Recruitment market.
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