Two things cannot escape in life. Death and Taxes. How do we compare with other countries in taxes ? Since i do not have more in-depth knowledge of most, I will do a rough estimate between Taiwan and Singapore.
Taiwan has a model kind of similar to some western countries in concept. In Taiwan, the medical and other benefits portion are funded separately and not part of the annual income tax. Nevertheless employees paid for it as part of the deductible in their salary. For simplification we will exclude them. Similarly we will not include Employer CPF contribution and relief in Singapore situation, and deductibles due to education and dependents in both countries.
As you can see the tax in Taiwan is not competitive at all based on Income Tax formula.
People in $200K bracket, Singapore residents paid about 50% of what Taiwan residents …Read the full article →