Does Singapore tax on worldwide income for its residents?
No. Taxation on worldwide income for Singapore residents depends on the source of income. Income is liable to Singapore tax if the source of the income is in Singapore. In other words, your income was accrued in or derived from Singapore, as a result of employment exercised in Singapore, even though your employer is a non resident/overseas company. However, income sourced overseas is tax exempt. In other words, your income was derived from outside Singapore, as a result of employment exercised outside Singapore. There are certain circumstances under which overseas income is taxable: • 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. • You are employed outside Singapore on behalf of Government of Singapore.
