It does. If you live and work in a country (even if it's for a foreign company) you can be sure that country wants you to pay taxes. That said, Singapore taxes

It does. If you live and work in a country (even if it's for a foreign company) you can be sure that country wants you to pay taxes. That said, Singapore taxes are very low, so it's likely a much better deal than paying the taxes in your home country (unless you're a US citizen, in which case everything becomes a lot more complicated, to the point where many banks in most countries won't even give you an account).