Search results
Generally, when your non-Singapore Citizen employee (i.e. foreign or Singapore Permanent Resident employee) ceases employment with you in Singapore, goes on an overseas posting or plans to leave Singapore for more than three months, you are required to seek tax clearance for him.
You can use our online Tax Clearance Calculator (XLS, 104KB) to check if tax clearance is required for your employee. 2. Do I need to seek tax clearance for a foreign student who is in Singapore for a business or industrial attachment?
Feb 7, 2024 · Tax clearance in Singapore is the process of notifying IRAS and withholding all monies owed to your Non-Singapore Citizen employee (i.e., a foreign or Singapore Permanent Resident employee) before he or she ceases employment with you in Singapore, goes on an overseas posting, or intends to leave Singapore for more than three months.
Nov 16, 2022 · Tax clearance proves that foreign employees, including Singapore Permanent Resident (SPR) employees, have their tax affairs in order after their employment has ended in Singapore. Tax clearance is also obligatory for foreign and SPR employees who plan to go to an overseas job posting and to leave Singapore for more than three (3) months.
May 29, 2020 · The tax clearance submission deadline has been extended to 30 June 2020 and any amounts due to the foreign employee must be withheld for settlement of outstanding taxes. Balance of withheld money will then be released after the settlement of any tax owing.
Mar 14, 2024 · We refer to the letter “Who should ensure that foreign workers pay income tax” (20 April) in Lianhe Zaobao by Mr Liu Mu Tian. Under normal circumstances, employers are required to pay their employees at least once a month and within seven days after the end of the salary period.
If the intention was to avoid paying taxes, the taxpayer may need to pay a penalty of up to 400% of the tax amount that was undercharged; be fined up to $50,000; and/or be imprisoned up to five years. Consult an experienced tax professional to file your personal taxes correctly and avoid penalties. Objecting to IRAS’ Notice of Assessment (NOA)
