Income Tax
The figures quoted above by NM are technically accurate but dont really apply to an expat pilot for 2 reasons:
1. A portion of your salary (out of base allowance) is deemed to be earned outside SIN and is zero rated, and;
2, (Really expat capt only) You can apply for 'Not Ordinarily Resident' status and you are then taxed at a flat rate of 10% on your taxable income (see point 1) for a period of 5 years. Noone knows what will happen once the 5 years are up as it is a fairly new scheme. It is really for capts only as you would pay more tax under the scheme as an F/O. You need a gross salary of about $190k pa to make the scheme attractive.
You can also pay any income tax liability in interest free monthly installments a year in arrears if you wish. Two minor snags with this as follows:
1. By the time your tax bill is calculated there might only be 7 months of the financial year left so the monthly installments (albeit for only 7 months) can be a bit steep.
2. When you leave Singapore you will be presented with a tax bill that must be paid in full prior to leaving. At the moment, profit share would take care of that liability but who knows what the future has in store. If you leave at the end of your contract then the gratuity would cover any outstanding tax bill.
There is usually more to it than it says on the label in Singapore!