Following tax concessions are available during the NOR period as long as the tax payer is a tax resident in the respective YA:
1. Time apportionment of Singapore employment income
Under this scheme. tax payer will not be taxed on the portion of his/her Singapore employment income that corresponds to the number of days he/she has spent outside Singapore for business reasons, as a resident Singapore employee. This scheme is subject to certain conditions.
2. Tax exemption of employer’s contribution to non-mandatory overseas pension fund or social security scheme
Under this scheme, if the tax payer is a resident Singapore employee, the tax exemption is given on contribution made by the employer to any non-mandatory overseas contribution scheme, provided that the employer does not claim a deduction for the contribution. The exemption is subject to a cap and subject to certain conditions.
