Sylvia Lim has suggested 25% income tax for those earning above $1 million.

[ZombieFart]

HK has a flat tax system.

http://www.forbes.com/2010/02/18/hong-kong-tax-system-law-business-opinions-books-michael-littlewood_3.html

"Flat tax" in inverted commas.
HK govt still calls it progressive rates, even though average earners would hit the highest tax bracket, as if it is fixed rate for all.
A low income earner however, will be paying at a lower tax rate.

 

[Bigfuck]

Your story is about a successful startup but this CEO could only be good in starting up the company and not necessarily in running the company once it has started. In Singapore where true entrepreneurship is found in the SME. The successful entrepreneur recognizes talent and brings the right people into the company he has started and it grows. In Singapore, entrepreneurship in SME was not well supported by government policies for a long time until very recently, particularly in the last budget, where there seems to be a change of heart. Maybe the government now feels that over-reliance on MNCs over which it has limited control is not a healthy situation and we are already left well behind countries like Japan and Korea which have very well developed local enterprises that have gained global recognition. We are now playing catching up. It is funny that even PAP MPs had spoken on this need 10 to 15 years ago and nothing of significance has been done.

Mao tse dung, Stalin, Hitler, Sun Yat Sen, Gandhi were all great leaders in pushing the country towards one direction. They fucked as CEOs of their countries.

 

[maozedong]

Very few developed countries have a truly flat tax system. For all intent and purpose, HK system can be considered flat because it is definitely flatter and much less progressive than other developed countries.


http://www.businessinsider.com/america-take-example-on-hong-kongs-simple-and-efficient-flat-tax-2010-7



http://en.wikipedia.org/wiki/Flat_tax#Countries_reputed_to_have_a_flat_tax

"Flat tax" in inverted commas.
HK govt still calls it progressive rates, even though average earners would hit the highest tax bracket, as if it is fixed rate for all.
A low income earner however, will be paying at a lower tax rate.

 

[ZombieFart]

Very few developed countries have a truly flat tax system. For all intent and purpose, HK system can be considered flat because it is definitely flatter and much less progressive than other developed countries.

I do not disagree with that. The tax system can be considered flat, even if the tax rate is not flat for everyone.