Tax tips in Singapore for expatriates should always be used as a reference for you and anyone who plans to move and settle in this country. Expatriates who live in Singapore are also subject to some kind of tax.
Tax Tips in Singapore
However, any activities that you do in Singapore in it may be accompanied by taxes. This tax burden becomes an obligation that must then be paid. To know more clearly and in detail about the tax burden borne by expatriates, you can see the following information.
1. Income tax
Every citizen who lives in Singapore to do work activities or maybe to run a business is definitely subject to the tax burden. Generally, the tax imposed by this person or income entity is called income tax.
Actually, the taxes imposed on each person are quite low. Even the amount of this tax does not reach 20%. In other words, those of you who work and run a business in Singapore can certainly still benefit from the income you earn. Because the amount of income tax is not so big.
2. Property taxes
There is also a property tax that also applies to every foreigner doing activities to buy and sell residential units. But actually, the purchase and sale of houses in Singapore are not high.
It is even known that expatriates do not need to pay taxes when selling home or apartment products that they have purchased in Singapore. Of course, these tax tips in Singapore will greatly benefit you because the proceeds of the sale of the house can be fully owned for various kinds of your interests.
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3. Vehicle tax
Moving to Singapore may make you feel want to own a private vehicle. With a private vehicle later you can do nobilities more easily. Unfortunately, vehicle ownership in Singapore is taxed by the government. The amount of tax to be paid is likely to be high or large.
This is done by the government with the aim of, among other things, limiting the number of vehicle owners. So the high tax burden will make people think to buy vehicles, especially cars. If indeed the vehicle is too expensive for you then the next tax tips in Singapore is just to use public transportation that is prepared by the Singapore government.
4. Food tax in restaurants
Buying food at a restaurant is also taxed because restaurant food is usually classified as luxurious and sold expensively. Some food menus sold in restaurants are taxed so you have to pay more.
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Generally, this tax consists of a service fee tax of 10%. In addition, there is also a GST or Goods and Services Tax that is charged at 7%. To find out whether there is a tax or not then you can see the information displayed on the restaurant menu. If there is a + sign then you will have to pay the price of the food plus the service fee. If there is a ++ sign, it means not only the service fee that you depend on but also the GST.
In addition, restaurants marked +++ show that the total price of food includes service costs and GST and a government tax of 1%. If you want to eat but do not want to be charged, then you should eat at the food vendors available on the roadside.
5. Alcohol tax
It is no secret that the purchase of alcohol in Singapore can be done with a relatively high price tag. Every purchase of alcohol is subject to a certain tax. No wonder then alcohol is priced at a fairly high price in some bars that you can find in Singapore. In order not to be taxed, you can also still make alcohol purchases but preferably in some stalls or shops only. It is a good tax tips in Singapore to perform.
6. Mobile roaming tax
The use of roaming pulses apparently also makes you forced to pay a lot. The overseas mobile roaming charge is indeed imposed in Singapore so that anyone who becomes an expat in the country is charged an additional fee when using a SIM card. If you want to avoid it then you can buy a SIM card for a while. Prepaid SIM purchases in Singapore are available anywhere. But first, make sure that your phone is adequate for GSM 900 and 1800 Singapore frequencies.
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7. Service tax
Lastly is a service tax that emphasizes more on tips or percentages. Anytime you buy a meal menu is also taxed on your payment receipts. The tax referred to this consists of the existence of a service fee or tip. You also still have to add tips for various other services in Singapore. If you don’t feel the need to tip then you can do it. To avoid tips you can also do for example by buying food products from some food vendors only.
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Tax tips in Singapore for expatriates are expected to be special information for you. So in case, you become an expatriate in Singapore of course you will not feel confused by all your tax obligations. All the tips above also allow you to do your tax obligations more easily. In addition, these tips can also help you to minimize tax risk.