The Telegraph, 6 Sep 2012Singapore’s allure as a low tax environment could be under pressure after its prime minister said taxes would need to rise.
Like many south-east Asian countries, Singapore is struggling with a rapidly ageing population. This is shrinking the workforce, creating a demand for expats to relocate to the city state.
But it is also creating a tax burden, with a growing need to provide health care and social housing for elderly citizens which will have to be met by the working population.
Along with a safe, child-friendly environment Singapore also enjoys low personal tax rates. Only 20 per cent tax is charged at the highest rate, compared to 50 per cent in the UK. Full story
