An efficient tax system is a necessity for a thriving economy. Excessive bureaucracy not only limits economic growth through an inefficient allocation of resources, but tax revenues also suffer from more considerable tax avoidance. Taxes also provide a platform for long-run economic development through an incentive structure. Singapore achieves the perfect balance. From one ofContinue reading “Singaporean Taxes”
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Singapore’s success
Touted as the second freest economy in the world behind Hong Kong in 2014, Singapore enjoys an exceptionally high standard of living with one of the world’s strongest economies. A GDP (PPP) per capita of $95,000 in 2017 – over twice that of the UK, GDP growth has averaged 7% since 1970 – far exceedingContinue reading “Singapore’s success”
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