Singapore: Low tax rates, ‘benign system’

Happy New Year 2014 Singapore! [Explored] by Randy Tan [RnD.de.Portraits], on Flickr https://www.flickr.com/photos/randytan/11686028206

Singapore ranks second lowest to Hong Kong in the world in term of the personal income tax payable.

Its relatively benign tax system aims to be more progressive where per 2013 statistics, 1 million tax payers paid a marginal tax rate of 5.5% or less.

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