CALVIN CHENG: DO YOU KNOW 70% OF S’POREANS DO NOT PAY A SINGLE CENT OF INCOME TAX?

Did you know that the top 30% of income earners in Singapore pay about 7.7 Billion of income taxes each year? The other 70% pay ZERO.

So if you are part of this 70%, you are a net recipient of almost 8 billion dollars of transfers.

If you are part of the 30%, you are very fortunate to be a giver rather than a receiver.

No complaints either way. Interesting factoid for sharing.

Calvin Cheng

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