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Tax structure in Singapore

 
Greenhorn
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Can someone in the group mention what is the tax structure (on salary) in Singapore.
 
Ranch Hand
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http://www.iras.gov.sg/ESVPortal/iit/iit-se-a1.1.15+tax+rates+for+resident+individuals.asp


If you work less than 183 days in one calendar year, you have to pay flat 15% tax
 
Ranch Hand
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OMG, that's all they charge? Here's what I pay: http://www.cra-arc.gc.ca/tax/individuals/faq/taxrates-e.html
 
Ranch Hand
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yes, I heard Singapore has one of the lowest tax rates in the world. don't know how true it is.

Cheers
 
Anil Kumar Saha
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yes,it is, if you work more than 183 days in one financial year(jan-dec)
 
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yes, but one should see it objectively.

Tax is less if you earn upto 40k a year
For folks who are coming in S'pore with atleast 80k a year its almost 15%
then 18% and then 21% ..i.e. by slabs.

So its wrong to generalize that tax is less.

but also do consider the following:

-GST 5% on everythign you buy,
-travelling by MRT will cost you on an avg. 3.0 dollars a day
-ERP(road tax) everytime you take a cab during the busy hours of 6.30-9 am and 6.30-8.30pm(leave alone you can afford a cab everyday)
-you cannot buy your own car its so expensive
-you always pay more for Indian food
-you cannot afford a maid easily
-Rental cost is average of 1/5 of your salary on most occasions for an govt-HDB flat, which by indian standard is really not good
-If you want to stay in a condoniminum(what we call a pvt apartment in india) you will pay close to 1.8k-2000 SGD. Still all our desi friends come and end up paying through the nose to stay in condos.
-part time courses are way too expensive
-books are expensive
-Seldom does an average indian go to Starbucks/Coffee club/etc etc for a hot coffee.
-liquour is darn expensive also !
-in general any form of liesure/entertainment is expensive.

Are you getting a REAAAAALLY good position, work profile and lots of $$$ ?

So ... how about you also think of quality of life vs $$$$


again...my opinion .. not necessarily need to be applied generally
 
Ranch Hand
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Hi ,
I am paying @ 30% taxes in US .
I am paying 6% sales tax on all buys.
$ 3 /per day mean @ 100 per month not a bad , i used to pay @ 300 USD pm .
Every time i take toll road i have to pay heavy toll.

car i am not sure , I feel its expensive in US too , total cost like @ 25000 usd for new car + insurance (1000 usd min) + more milegae causing extra maintenance + gas $$$ .

indian food is expensive in US too.
Maid ??? Man at least u have ,in US you can soem how manage that is also on hourly basis . Or you have to look for some illegal alien (Desi or Mexican).

I think other then apt cost you have really every thing cheaper as compare to US .

I am offered 100k + bonus + relocation + med .covergae by a investment bank ,i am not sure it is good or bd offer in Singapore .can you suggest some thing.

Originally posted by suekar meredilko:
yes, but one should see it objectively.

Tax is less if you earn upto 40k a year
For folks who are coming in S'pore with atleast 80k a year its almost 15%
then 18% and then 21% ..i.e. by slabs.

So its wrong to generalize that tax is less.
good apartment is @ 1000-1500 USD per month depending on area.


but also do consider the following:

-GST 5% on everythign you buy,
-travelling by MRT will cost you on an avg. 3.0 dollars a day
-ERP(road tax) everytime you take a cab during the busy hours of 6.30-9 am and 6.30-8.30pm(leave alone you can afford a cab everyday)
-you cannot buy your own car its so expensive
-you always pay more for Indian food
-you cannot afford a maid easily
-Rental cost is average of 1/5 of your salary on most occasions for an govt-HDB flat, which by indian standard is really not good
-If you want to stay in a condoniminum(what we call a pvt apartment in india) you will pay close to 1.8k-2000 SGD. Still all our desi friends come and end up paying through the nose to stay in condos.
-part time courses are way too expensive
-books are expensive
-Seldom does an average indian go to Starbucks/Coffee club/etc etc for a hot coffee.
-liquour is darn expensive also !
-in general any form of liesure/entertainment is expensive.

Are you getting a REAAAAALLY good position, work profile and lots of $$$ ?

So ... how about you also think of quality of life vs $$$$


again...my opinion .. not necessarily need to be applied generally


[ June 28, 2006: Message edited by: NJ Joshi ]
 
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