# Bank Account at Singapore & Taxes



## george4884 (Jan 3, 2014)

I'm a Malysian working at Manila on an expat package, but my parent company is based in Singapore. Thus I have an option to request my employer to park my salary in Malaysia, Phillipines or Singapore. I thought it'll be a good idea to have minimal amount paid in Pesos and the rest of the portion to be credited to a Singapore bank account. If I get my employer to park part of my salary at a Singapore bank account, will I be taxed by Singaporean IRB? I have a work permit at Philippines.

Also, how easy it is for a foreigner to open a savings bank account at Singapore? 

Appreciate your input on this. Thanks...


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## beppi (Jun 10, 2013)

Singapore income taxes are only due on income for work performed in Singapore, thus you won't be taxed.
The procedures and requirements for opening a bank account differ from bank to bank. Some open accounts (with or without restrictions) for foreigners. Ask at the bank(s) of your choice!


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## george4884 (Jan 3, 2014)

Thanks for your comments beppi.

My employer said similar statement. But they said that I won't be taxed at Singapore if I don't reside there at least for certain number of days (I don't quite remember the number of days, I think they mentioned 90 days).

So, I'm wondering if I stay there for more than the specified number of days, then I'll be taxed?


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## beppi (Jun 10, 2013)

You will never be taxed for income deriving from work or employment abroad.
You cannot stay above 89 days without a long-term residence visa - and those are available for employment or family ties only.


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## george4884 (Jan 3, 2014)

Okay. Thanks for the clarification beppi. Appreciate your time.


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## simonsays (Feb 11, 2009)

PS: if you transfer by Wire to Manila, it can be costly

If you do normal cheque transfer, can take 30 days .. or more

Plan B: open a DBS / POSB account and get a token. ask your employer to remit here

Go and get a PNB account, and then go to the PNB Branch in Singapore, and get a bill-payment-ref no

Once you have both, when you need money to your Peso account, go to DBS, login, and then do a payment to the PNB account, and within 24 hours your money is available

all other options cost an arm and a length, or take too freaking long . ...

the above needs some effort to set up, then it is just a breeze.


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## BBCWatcher (Dec 28, 2012)

Does that PNB "Plan B" option specifically need to be with DBS or POSB?


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## simonsays (Feb 11, 2009)

for payment to PNB from Singapore, I only know DBS/POSB having such low-cost options .. 

you can transfer from any bank, if you are ok with the telex charges .. if that's what you are asking !!!!!!!!!!!


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