Tax Tips for Americans in Singapore

If you have U.S. tax filing obligations and live in Singapore, check out these tax tips.

  1. If your U.S. tax liability is not completely offset by the foreign earned income exclusion, you should claim a credit for taxes paid to Singapore on any unexcluded income. On your U.S. return, you can elect to claim a credit for taxes paid when the tax liability accrued (i.e. when you earn income) rather than when the taxes are paid.

  2. Any employer contributions to your Central Provident Fund should be reported on your U.S. return as wage income. Unfortunately, you cannot exclude these contributions. However, you may be able to eliminate any resulting tax liability by using a combination of applicable deductions and credits.

  3. If you’re working as a self-employed individual in Singapore, you remain subject to U.S. self-employment tax on your income. Self-employment tax accrues at 15.3% of your net income from self-employment and cannot be offset by any deduction or exclusion. Rather, to reduce your U.S. self-employment tax liability, you would need to claim expenses relating to your business or refundable credits.