Replies

It looks like their instructions are better written than ours, and certainly the IRS could learn from Singapore about how to design forms and instructions. But the overall situation as to the determination of income is similar.

Take the expense related to the purchase of capital goods for a business, here is just one part of the summary document related to vehicles:
"From Year of Assessment 2009, most of the fixed assets purchased would qualify for the three years write-off. For Year of Assessment 2008 and before, three years write-off is allowed for all qualifying assets except motor cars, motor cycles & light goods vehicles weighing 3,000 kilograms and below. The full cost of the asset will be claimed as capital allowance over three years."

Sounds like it could be a summary of a part of our own rules for vehicle deductions, and close to the same level of complexity.

All taxing systems impose a dead weight and lost productivity on society along with their real cost. Singapore does not look like an example of a low tax environment, except as it is related to capital gains and dividend taxation.

But it is a nice place and has a better tax climate than a lot of other places.