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I 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)
by harha 6y ago
I 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.