5 ms·
All this feels so wasteful, especially the CIR and formerly the CICE. Instead of having low taxes, you have nominally high taxes and a bazillion paperwork-heavy
by doukdouk 6y ago
All this feels so wasteful, especially the CIR and formerly the CICE. Instead of having low taxes, you have nominally high taxes and a bazillion paperwork-heavy to make them low. Might as well just make them low in the first place.
- realusername 6y agoYeah that's my point of view as well on the French system, going after tax exemptions is almost a full time job since there are so many of them. And of course the companies who end up benefiting from those are most often the least deserving...
- harha 6y agoI like the way Singapore keeps it simple by having tax exemptions and lower rates for the first $ X of income (and overall lower tax than most places in Europe), this is easy to work with and allows you to reinvest in ways you see fit rather than having to deal with a bunch of other entities from advisors to government agencies that all have their own agenda. Edit: corporate income that is.
- refurb 6y agoI love how Singapore’s income tax calculator fits on a single page in excel. https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/Individuals/Tax%20Calculator%20-%20Residents_YA20.xls https://www.iras.gov.sg/irashome/uploadedFiles/IRASHome/Indi...
- harha 6y agoCompare that to Germany. There’s a company (datev) that has a monopoly on SMB accounting and will only work with tax advisors. Complete waste of labor and money, all because taxation rules are so complicated.