Spore has one of the highest taxes in the world

[hockbeng]

1. Income tax
2. Gst
3. Electricity powered by natural gas but charged as crude oil
4, water conservation tax
5 gst tax on water conservation tax (7% x 30% water tax)
6. 10 yr coe
7 high import tax for vehicles
8. High fuel tax.
9. Males nust serve 2.5 yrs ns + 10 yr reserevist cycle.
10. Privatised for profit public transport system (bus and mrt) when in should be part of the gov job to run it
11. Sky high land and hdb flats
12. Town council fees

it is time to reduce the tax burden of sporeans as evidenced by huge reserves in temasek/gic/town council funds and highly profitable smrt/comfort delgro etc

 

[kingrant]

Certainly not Income Taxes! Have you seen canada's? At least 30%!

Singaporeans middle classes will pay only about 10-15% per year after all the deductions.

Canada's provincial and federal taxes range from 5-20% total.

 

[Thick Face Black Heart]

Are you aware other countries not only have high income tax, but they also have VAT which is the equivalent of our GST? And their VAT is not just fucking 7% it is in the double digits.

If u want to whack the govt, whack them based on the fact that they tax so much but do not use it for nation building or helping the poor.

Singaporeans are taxed in other very significant ways too, apart from the obvious. Think about how FUCKING DIFFICULT it is for a startup company to compete with entrenched GLCs especially when that startup wants to enter a sector like education development, WITHOUT THE BENEFIT of having connections with some elite or someone in govt, etc. Think of how difficult it is for private enterprise, especially small businesses to obtain govt contracts.

It is the hidden form of taxation in the form of denied opportunities and cronyism that actually hurts Singaporeans more.

 

[Leongsam]

Singaporeans middle classes will pay only about 10-15% per year after all the deductions.

What salary range is considered to be "middle class"?

I need the figures so I can do a comparison of the tax burden.

 

[Thick Face Black Heart]

What salary range is considered to be "middle class"?

I believe USD10K per month

 

[Leongsam]

I believe USD10K per month

If I make the assumption that a family unit earning USD10,000 per month in Singapore would own two cars, We can immediately add a "tax" of USD4,000 per annum for road tax and USD6,000 per annum for two COEs (x10 years).

That's USD10,000 per year or 10% of income.

Start adding ARF, daily ERP costs, maid levies, parking, CPF deductions that you'll never get back etc and you'll soon realise that Singapore's low tax regime is tailored to benefit foreigners on employment passes only.

 

[sense]

Interesting compilation. Where are your references to support your claims regarding SG tax ranking?

http://tinyurI.com/f-reference

 

[Char_Azn]

1. Income tax
2. Gst
3. Electricity powered by natural gas but charged as crude oil
4, water conservation tax
5 gst tax on water conservation tax (7% x 30% water tax)
6. 10 yr coe
7 high import tax for vehicles
8. High fuel tax.
9. Males nust serve 2.5 yrs ns + 10 yr reserevist cycle.
10. Privatised for profit public transport system (bus and mrt) when in should be part of the gov job to run it
11. Sky high land and hdb flats
12. Town council fees

it is time to reduce the tax burden of sporeans as evidenced by huge reserves in temasek/gic/town council funds and highly profitable smrt/comfort delgro etc

1)Singapore a very low income tax compared to the rest of the world

2)Most countries I've been to requires U to pay VAT which are usually at least 10%. If you really want to compare this, we pay less GST then most countries including developed and developing countries

3)This is not even a tax.

4)How much do U actually pay for this? It takes up no more then 1% of your pay

5)See point 2

6)You can choose not to pay this. Take public transport

7)See point 6

8)See point 6

9)Still not a tax

10)Not a tax.

11)Boy are we off topic here

12)The conservancy fees are used to pay for services like garbage disposal, it's still not really a tax.

 

[seebaysong]

So nid at least 15k p/m to visit ktv and health ctr ?

 

[Char_Azn]

Just found a good source to show how much bullshit the thread starter pulled out his ass

http://en.wikipedia.org/wiki/Tax_rates_around_the_world

 

[peterpan777]

1)Singapore have of the lowest income tax in the world - go google. It'll be hard for you to find any developed country with lower taxation then us

2)Most countries I've been to requires U to pay VAT which are usually at least 10%. If you really want to compare this, we pay less GST then most countries including developed and developing countries

3)This is not even a tax.

4)How much do U actually pay for this? It takes up no more then 1% of your pay

5)See point 2

6)You can choose not to pay this. Take public transport

7)See point 6

8)See point 6

9)Still not a tax

10)Not a tax.

11)Boy are we off topic here

12)The conservancy fees are used to pay for services like garbage disposal, it's still not really a tax.

Tax is all about money you need to pay. As long as it is $ related, it is consider tax.
NS, COE, road tax, water, etc. are money that goverment collected from people.
Even you take public transport, you also need to pay all these tax as the public transport needs to pay for this. it is the cost for them to operate.

e.g. Taxi - also need to pay COE, petrol tax..

 

[myfoot123]

1. Income tax
2. Gst
3. Electricity powered by natural gas but charged as crude oil
4, water conservation tax
5 gst tax on water conservation tax (7% x 30% water tax)
6. 10 yr coe
7 high import tax for vehicles
8. High fuel tax.
9. Males nust serve 2.5 yrs ns + 10 yr reserevist cycle.
10. Privatised for profit public transport system (bus and mrt) when in should be part of the gov job to run it
11. Sky high land and hdb flats
12. Town council fees

it is time to reduce the tax burden of sporeans as evidenced by huge reserves in temasek/gic/town council funds and highly profitable smrt/comfort delgro etc

You forgot

13. 20% upfront deduction from your monthly salary and you never get to see this amount in your
lifetime.

 

[Cestbon]

No fair to compare like this. Let said on average Singaporean income is $50k/year.
Also need to calculate on average what is the electricity/water.......bill to calculate water conservancy charge&GST.
On average how many % own car, average COE price. Average fuel consumption......to calculate all tax related to car eg. COE,petrol tax..........................
Average spending.......................after minus saving to calculate total GST paid...............

 

[kingrant]

If I make the assumption that a family unit earning USD10,000 per month in Singapore would own two cars, We can immediately add a "tax" of USD4,000 per annum for road tax and USD6,000 per annum for two COEs (x10 years).

That's USD10,000 per year or 10% of income.

Start adding ARF, daily ERP costs, maid levies, parking, CPF deductions that you'll never get back etc and you'll soon realise that Singapore's low tax regime is tailored to benefit foreigners on employment passes only.

Sam, you are right, but dont forget in Canada they have to pay both Federal taxes and provincial taxes, so x2.

 

[Leongsam]

Sam, you are right, but dont forget in Canada they have to pay both Federal taxes and provincial taxes, so x2.

Do the comparison... throw in all the taxes they have to pay in Canada and do the same for Singapore. Don't forget to add in inflated public housing prices.

I've done the math. For a middle class family, Singapore is one of the most expensive places on earth to live in. That's why I don't live there anymore.:p

 

[kingrant]

Agreed with you, no doubt when everything's considered. But the thread was on taxes alone. I believe various forumers e.g. Cheong Wing Lee recently, have posted such comparisons...

But really Singapore must be compared to cities like Tokyo, London, Shanghai, NY..maybe even then still not a fair comparison becos land area here is much less than these other cities..Must find really comparable cities, not countries. Perhaps HK comes closest in terms of available land for living.

Do the comparison... throw in all the taxes they have to pay in Canada and do the same for Singapore. Don't forget to add in inflated public housing prices.

I've done the math. For a middle class family, Singapore is one of the most expensive places on earth to live in. That's why I don't live there anymore.:p

 

[Leongsam]

Agreed with you, no doubt when everything's considered. But the thread was on taxes alone.

The PAP are great illusionists. Criss Angel would have a hard time competing. :p

By avoiding the use of the word "tax" in almost all of their extortion schemes, they've created this grand illusion that Singapore has very low taxes.

The biggest "tax" of all is the CPF scheme. The govt collects the money via HDB. What isn't used by the HDB is handed over to Temasek Holdings and GIC to play around with. Most people will never see the money again. I worked out that the only way to play their game and win was to cash out early. That's why I left.

 

[Getloud]

Do the comparison... throw in all the taxes they have to pay in Canada and do the same for Singapore. Don't forget to add in inflated public housing prices.

I've done the math. For a middle class family, Singapore is one of the most expensive places on earth to live in. That's why I don't live there anymore.:p

NB. I thought you say you're still in Toa Payoh waiting to vote for WKS???

 

[kingrant]

In US it is the 401K system, Canada has something similar. They also dont call it taxes but retirement pension schemes. Except you cant take it out for properties. Also, even when you take it out in retirement, you have to pay taxes. In Singapore, you claim relief and it is tax free when you withdraw at 55 onwards.

The biggest "tax" of all is the CPF scheme.

 

[Leongsam]

NB. I thought you say you're still in Toa Payoh waiting to vote for WKS???

You're way out of date. That was more than 2 years ago.