Singapore’s NOR Tax Regime to be Discontinued Next Year

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Singapore’s 2019 Budget has been amended to allow for a new tax system in order to diminish the city-states dependence on foreign workforces of all skill levels. To this end, the Not Ordinarily Resident (NOR) in Singapore, a regime started in 2002 to appeal high ranking officials from foreign companies will end by 2020.

The NOR scheme was first introduced as an incentive for foreign talent to relocate to Singapore by giving them favourable tax breaks. The Singapore MOF (Ministry of Finance) has said that the last year for the NOR scheme will be the 2020 financial year (for income earned in 2019).