Expenses in Singapore Internal

What can or cannot be expensed?

Expenses that will and will not be covered are determined by mutual agreement between the parties. 

Please note, as a general rule, any additional costs that the supported employee will incur as a result of having to work from home should be covered. As such, phone and internet services should be provided, as well as home office equipment (i.e. chairs, monitors, laptops, desks, etc).

It is common practice for employers to provide medical and dental coverage as part of a group plan. This can be done through one of Velocity Global’s offered corporate insurance plans.

Expenses are nontaxable if they are business-related. “Personal” expenses (e.g., gym membership, phone bills that include personal usage) are considered a Benefit-in-Kind (BIK) and subject to taxes.

How are expenses reimbursed?

Velocity Global uses a cloud-based expense platform to simplify the expense-reporting process. We will reimburse expenses via direct deposit to the  supported employee’s bank account (no cash or checks) if all of the following conditions are met:

• The supported employee’s supervisor has approved the expenses
• The expense must be incurred wholly, exclusively, and necessarily in the performance of the supported employee’s duties
• All expenses must demonstrate that the expenditure has been incurred for professional purposes
• The expense, whatever its amount is, must be duly supported with the correct evidence

Can supported employees avoid paying out of pocket and waiting for expense reimbursements? 

Unfortunately, we do not currently have an option for supported employees in Singapore to avoid paying out of pocket for their expenses.

What are the country-specific expense regulations? 

Please reference our Expense Policy for Singapore.

How do expenses need to be documented in Singapore?

All expenses, regardless of the amount, needs to have a receipt that is uploaded in our cloud-based expense platform.

Although hard copy receipts are not required, it is good practice for supported employees to keep them for a couple of months after a reimbursement has been made.

Can Velocity Global help us provide per diems instead of expenses? Can Velocity Global provide per diems for business travel?

Velocity Global does not currently provide per diems in Singapore.