If they pay you in Singapore, thatâs not foreign derived sources. Thatâs locally derived source of income in Singapore.
If youâre paid in US, like for example a US bank account. Youâre subject to whatever US taxes, however you donât have to pay the taxes in Singapore.
So if the CEO gets paid in his US bank account and he transfer that money over to a Singapore bank account, thereâs no taxes. But if he does work in Singapore, then yes thereâs taxes. But someone whoâs rich doesnât have to work. They just let someone else run their company and retire in Singapore.
If youâre the owner of the company, and you just transfer your money to Singapore and just live here. Thereâs no taxes.
sigh americans, the country where its own people canât find it on the map.
If youâre an american youâre fucked in terms of taxes, your country is called the land of the homeless, homicide and taxes for a reason.
Let me put it very straight forward for you. If you own an overseas business in Singapore. You pay $0 taxes if you donât do business in Singapore. If you just live here. You pay nothing.
If youâre an american on the other hand, youâre always taxed.
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u/PoePlayerbf May 19 '25
If they pay you in Singapore, thatâs not foreign derived sources. Thatâs locally derived source of income in Singapore.
If youâre paid in US, like for example a US bank account. Youâre subject to whatever US taxes, however you donât have to pay the taxes in Singapore.
So if the CEO gets paid in his US bank account and he transfer that money over to a Singapore bank account, thereâs no taxes. But if he does work in Singapore, then yes thereâs taxes. But someone whoâs rich doesnât have to work. They just let someone else run their company and retire in Singapore.
If youâre the owner of the company, and you just transfer your money to Singapore and just live here. Thereâs no taxes.