QUOTE(L7Awesome @ Mar 30 2011, 04:56 PM)
Hmm... it should be the other way. Money repatriate back to their respective country should be good for their country. However, I believe that if the country continue to lose skilled workers to another country, then less 'high-tech' foreign investor will want to go into that country. With that, it will cause the country to lose their competitive edge. Thus, more people will lose out and the country as a whole will lose out even with the money sent back. That's my theory...
Added on March 30, 2011, 4:59 pmI got
taxed 15% the first year working here (less than 1/2 years). :-(. But I did gain back some tax deduction in Malaysia though since my pay is based on 1/2 year in Malaysia.
15%? Are you earning 160K per year?
CODE
RATES OF TAX FOR YEAR OF ASSESSMENT 2011
Your chargeable income is the amount remaining after deducting from your assessable income the personal reliefs to which you are entitled. If you are a resident in Singapore, the rates of tax chargeable are as follows:
"Chargeable Income" Rate Gross Tax Payable
$ (%) $
On the first 20,000 0 0
On the next 10,000 3.5 350
On the first 30,000 350
On the next 10,000 5.5 550
On the first 40,000 900
On the next 40,000 8.5 3,400
On the first 80,000 4,300
On the next 80,000 14 11,200
On the first 160,000 15,500
On the next 160,000 17 27,200
On the first 320,000 42,700
Above 320,000 20
Source: http://www.iras.gov.sg/irasHome/page01.aspx?id=88
This post has been edited by yeahs4.1: Mar 30 2011, 10:26 PM