Is Singaporean the higher tax payer in the world?

Question

Assume you own a 1.6 cc saloon with $18,000 OMV. The ARF and duty you need to pay is $23,400. COE is about $11,000. Come up to about $3,440 per year. Road tax is about $800 per year, fuel is about $300 per month, but about 50% go to duty, so duty paid is about $1800 ($150 *12) per year. So, total duty and tax paid to own a 1.6 cc car is about $6,040 per year. Of course that exclude your personal income tax, TV/Radio license, and etc...

Here, I am saying in total, all the taxes paid. For a driver who earn $30,000 per annual, $6000 is already 20% of his pay, that exclude any other taxes.

Some Europe Countries do pay higher income tax than us. But don't forget we have to take care of our own retirement.

Answer 1

No. Singaporeans do not pay the highest tax in the world. Their rates are:-

Corporate tax - 20%
Individual tax - between 3.75 to 21%
VAT - 5%

A quick run through showed that, maybe the Danes are the highest tax payer at 24%, 38-59% and 25% respectively!

Answer 2

As you've considered we are a options from being the most distinctly taxed usa contained in the international. truly, pondering the benefits of residing in this usa i could say we get off particularly gently. i assume you're indulging in our nationwide pastime of moaning about tax as a substitute from discussing the elements and would not heavily favor to stay in between the least civilised international places. yet why do you pay all this tax? look heavily at your question. almost each thing you said is discretionary. you actual chosen to pay the tax. you do not pay tax on income of £100 a week. the vehicle is not sensible. Water has no VAT - what's all this about tea and beer? television - nicely, i do not have one so i recognize you're able to do without. Even electrical energy isn't necessary (besides the shown actuality that my existence wouyld be very confusing without it). a neighbour residing next door to my Mum did no longer have mains electrical energy put in till 1968. and do not ignore that there replaced into no VAT on electrical energy till the Nineteen Nineties. No, it truly is a probability to pay little or no tax. I likely pay decrease than overall yet settle for the contributions I do make as I evaluate the benefits I receive to be worth it.

Answer 3

Yes we do pay some of the highest taxes for car ownership in the world. But no, even if we include car-ownership related taxes with income tax, consumption tax, etc, we still do not pay a lot of tax as compared to Europeans. The Swedes, for instance, regularly have up to half their income taxed away.

Answer 4

If you're talking about cars, Singapore's cars are the most expensive in the world.

Answer 5

Apparently yes

Answer 6

for vehicle tax, alochol & tobacco - most probably

for other taxes like income, corporate, GST, etc - definitely no