6 Main Tax Tips for Expat in Singapore

Tax tips for expat in Singapore can be applied so that later you can become a citizen who lives in Singapore and obeys taxes. There are not many types of taxes that are charged to the people of Singapore directly. But of course, some taxes are imposed on the community indirectly.

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6 Main Tax Tips for Expat in Singapore

Perhaps the tax burden borne by Singaporeans is not yet fully known by you. If you currently live in Singapore, then it will be good for you to know in more detail about the different types of taxes and all tips or ways that can be done to make tax payments following the provisions.

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Large Personal Taxes

The first tax tips is the large personal taxes. Every country has imposed taxes on every citizen. This kind of tax procurement also certainly applies in the State of Singapore which imposes certain taxes for each of its citizens. For example, there is an income tax imposed on every Singaporean citizen.

This large income tax is quite low when compared to other countries. Even the amount of tax charged on all citizens is still below 20%. This makes Singapore referred to as one of the countries that have low tax rates. So if you have a business in Singapore there is no need to worry because the tax burden that becomes your obligation is quite low.

Tips and Percentages

Taxes imposed in Singapore also have to do with tipping and percentages. Because this has to do with giving money to other parties. Tipping is not an obligation at the same time expected in Singapore. Nowadays even more restaurants are incorporating service charges into the final bill.

However, the cost of this service is not always applied by some food vendor centers or some beverage outlets. Giving your tips is a good way to express your gratitude for certain services. So if you don’t feel the need to tax tips then you don’t have to. This will reduce your burden which makes the expenses more efficient.

Purchase of Alcohol

Alcohol is one of the expensive products in Singapore because its sales are accompanied by high taxes. For this reason, some Singaporeans try tax tips for expat by trying to make purchases of this alcohol in some other places that can sell alcohol at a cheaper price.

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For example, buy local alcohol at a coffee shop or maybe at a local food vendor center. The price is arguably much cheaper than imported beer. Those of you who still want to make alcohol purchases at the bar can also get it at a cheaper price. For example, when there is a discount price that makes alcohol much more economical in price.

Service Fee

Tax surcharges can also be earned in terms of service fees that you may have to meet when purchasing multiple menus at certain restaurants.

Usually, some restaurant menus in Singapore will display the price of the item before being charged a service fee and GST or Goods and Services Tax or also called the Goods and Services Tax. The service fee at restaurants is generally 10%. While the GST is an additional cost of 7% of a certain amount.

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In addition, some restaurants also display double plus signs or ++ that indicate a service fee of 10% and GST of 7%. But if there is an additional sign of three or +++ means there is an additional government tax of 1%. So you need to recognize all the signs in this regard.

Use of Credit Cards

Many Singaporeans use credit cards. But sometimes some places in Singapore accept payments using credit cards that come with additional fees. Therefore, you need to ensure overseas fees for your credit card precisely with your bank and credit card provider.

In addition, choosing a credit card provider can also be done with a lot of consideration to support nice tax tips for ex-pat. Those of you who do not want to make more expensive payments using a credit card can make purchases at certain stores.

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Overseas Mobile Roaming

The next cost burden that you can also get is the burden of overseas mobile roaming. To avoid this, you can buy a phone or SIM data card for a while. You can buy prepaid SIM in Singapore for example at various supermarkets or gas stations or maybe even in mobile phone stores and from some of the major telecommunications companies in Singapore. You can buy a SIM card by making sure that your phone can work i.e. in GSM 900 or 1800 Singapore frequencies. So you can save more costs without additional costs or taxes.

Tax tips for expat in Singapore can range from various types according to the details above. Of course, the various tips above are expected to help you to know all tax credits in Singapore.

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Not only that but the entire way of payment is also known and understood further. Then your entire tax burden can be met properly. It is recommended to know the obligation for those all, especially everything related to taxes. Therefore, it will be good for you to carry out all the tips above in terms of fulfilling your tax obligations in Singapore.