How singapore's rich pay 0% tax and poor pay 40%

[johnny333]

Can you imagine that LKY, LHL,... would pay any taxes

I remember reading somewhere that the PAP MP's are exempted from income taxes. If they are liable I bet that it is only a token amount. Those in power will definitely fix the system for their own benefit & that would include NOT paying their fair share. Do you think the tax people would dare tell LKY that he owed taxes

 

[chootchiew]

Can you imagine that LKY, LHL,... would pay any taxes

I remember reading somewhere that the PAP MP's are exempted from income taxes. If they are liable I bet that it is only a token amount. Those in power will definitely fix the system for their own benefit & that would include NOT paying their fair share. Do you think the tax people would dare tell LKY that he owed taxes

LKY LHL pay tax ? If they don't take our tax we should be grateful liao still dare to hope for them to pay LOL

 

[greedy and cunning]

Singapore is a wicked regime whereby the rich can pay almost 0% tax, meanwhile the effective tax rate for poor in my estimate is more than 40%. For a rich person that earns for example S$10 million, from dividends, he will pay almost NO tax at all.

in the 70's and 80's
there was a personal relief given to everyone paying income tax , no matter how much u earned and your age.
i think it is $4000, comprising of earned relief , personal relief and one more relief. ( cannot remembered name)
in the 90's they remove of these relief ($1000) , total relief becoame $3000
and now the relief is just $1000 for those below 55 years old.

effectively , the lower income groups are made to pay more tax .

 

[chootchiew]

You have to learn to say the right things to the right people. Even if they don't have direct authority to help you they'll teach you how to put on a good "wayang" for the appropriate person.

I do have to point out that not all my grant applications were approved. However, I managed to net the important ones.

oh yeah that means I always lick the wrong ass

 

[Cerebral]

The relationship was with the EDB. They were very helpful.

EDB focuses on SG tech exported overseas. What did you sell them? SBF or the sister forum?

 

[chootchiew]

EDB focuses on SG tech exported overseas. What did you sell them? SBF or the sister forum?

He sold them backside.

 

[johnny333]

By the way, as of this year the CPF has become a tax since no one is allowed to take it out.

So don't forget which party to vote against in the next GE

 

[looneytan]

oh yeah that means I always lick the wrong ass

to begin with ......

YOU LICK THE WRONG PLACE

 

[Leongsam]

EDB focuses on SG tech exported overseas. What did you sell them? SBF or the sister forum?

The company was making computer peripherals. 90% of our output was exported. The remaining 10% went to multinationals located in Singapore.

 

[Sinkie]

So far no one can convince us that CPF is good for us and that it is not a scam. So, the majority is always right.

 

[sochi2014]

40% so low meh?

Should be 60%

 

[Leongsam]

So far no one can convince us that CPF is good for us and that it is not a scam. So, the majority is always right.

CPF is a tool to help save money for retirement. Whether it's good or bad for you all depends upon how you use it.