1. Akhtar's parents are not liable for income tax on their share of rental income. They are exempted from tax according to section 13(7A), where remittances of foreign sourced income by Singapore tax residents have been exempted. According to IRAS, foreign source income received in Singapore by resident individual from 1 January 2004 onwards excluding income received though a Singapore partnership, will be exempt from tax if comptroller determines that the exemption will be to their benefit. Yes, Kat's private company is liable for tax. The total amount that is remitted back to Singapore, $9350 Nigerian Naira which is also $7480 Singapore dollars. According to Section 10(1) income tax shall subject to the provision of the act be payable at the rates or rates specific here in after for each year of assessment upon income of any person accruing in or deprived in Singapore or received in Singapore in respect of Section 10(a) to (g). The interest derived from interest income would not be subjected to tax according to section 10(1)(d), as passive income is not subject to tax