Yes. Singapore taxes foreign income when it is received in Singapore, but the Foreign-Sourced Income Exemption (FSIE) can exempt three specified categories: foreign-sourced dividends, foreign branch profits and foreign-sourced service income.
Under Section 13(9) of the Income Tax Act, all three conditions must be met: the income was subject to tax in the foreign jurisdiction it was received from; the headline tax rate of that jurisdiction is at least 15% when the income is received in Singapore; and the Comptroller is satisfied the exemption is beneficial to the Singapore resident.
Note that from 1 January 2024, Section 10L treats gains from the sale or disposal of foreign assets received in Singapore as taxable income where the entity lacks adequate economic substance in Singapore, or where the gains relate to a foreign intellectual property right. This is a significant carve-out from Singapore's usual non-taxation of capital gains.
Supporting documents need not be filed with the return but must be retained for IRAS on request. Apexia can assess whether your foreign income qualifies for exemption and whether Section 10L applies.