Originally posted by robertteh:
Originally posted by the Bear:king108.. you seem to be promoting Reaganomics
anyway, Robin Hood?
they're more like Robbin' Hoods
Originally posted by king108:Creation of firms here doesn't mean more jobs. Outsource is still the word businesses like.
[b]I do believed that we need to lower corporate tax to encourage both foreign and local singaporean to set up firm here. By setting up firms here, chances of creating jobs will be higher. I hope this is right?[/b]
den give our views so we can make it near perfect...Originally posted by F.raon.I.R:NO GOVERNMENT IN THIS WORLD IS PERFECT
king108,Originally posted by king108:Sorry, Fellows Atobe, hope you won't mind me coming into picture again..
I would propose lower corporate tax, as these will encourage foreigner MNC and local SME to set up companies here and hopefully create job opportunities for our local singaporean.
I would also propose high personal tax, maybe 30 - even up to 50% instead of the current tax system. Reason is very simple, the higher the earning, the more they contribute to singapore society. As a singaporean, if I am more willing to pay 5% above if I have that kind of earning too. won't you? or any singaporean? This may also improve family bonding as deduction can be obtained with staying with parents.
Retain the current 5% GST if needed to, but not encouraging anymore increase.
I am currently looking at how public transport fare can be reduced so that our local can benefit from it.
For the rest of the topic, I won't comment until I have a better proposal or solutions.
No offence. Cheers.![]()
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Ok no more orange.Originally posted by ndmmxiaomayi:Creation of firms here doesn't mean more jobs. Outsource is still the word businesses like.
Of which, the government really selectively select them and makes life worse for us if they are implemented.Originally posted by Purplehaze623:den give our views so we can make it near perfect...![]()
Originally posted by king108:You want to write in white also can. Just remember to tell us to highlight the text, if not cannot see.
[b]Ok no more orange.![]()
If the company is set up and operated here, the company will have to paid corporate tax, rental, utilities, stamps, telephone charges, legal, other related jobs and best hopefully he created some value jobs for our local here. Even his business is outsourced to other country, his earning is still taxable here. Indirectly and or directly, he created jobs. Am I right. I had been creating jobs..that why I know but just no enough..
Corporate tax will be a collection to the govt. Personal tax is another..
By the way, I am not for out sourcing unless no choice.
I hope my answer is acceptable to you.![]()
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Accounting, IRA, Auditor, IT, Admin really depended how big is the size of company. Would you send your hard copies of the invoices,documents, out and wait for returns when local have such services available?.Originally posted by ndmmxiaomayi:You want to write in white also can. Just remember to tell us to highlight the text, if not cannot see.
Correct me if I misunderstood you. You say the company have to pay corporate taxes, rental, utilities etcso this means some locals will be hired to do these jobs? Help them buy stamps etc?
For the blue part, how does the company paying of tax helps to create jobs?
Understood.Originally posted by king108:Accounting, IRA, Auditor, IT, Admin really depended how big is the size of company. Would you send your hard copies of the invoices,documents, out and wait for returns when local have such services available?.
Please lah..stamps if postage is what you meant..Heard of "stamp fee"..![]()
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Originally posted by king108:It is always good to have an anchor.
Original post by Atobe:
king108,
no offense taken in your post, and likewise would prefer if you avoid using the color " orange " - which really is hurting to the eye when the entire page is painted and to be read in detail in this color.
Are you a practising Buddhist ?
Rep: A free thinker at current stage, I had interest in religions. I had personally read most of them to know them better. I am pledging my belief to Christ soon.
Lowering the corporate tax may only result in higher profits retained - which may not benefit Singapore or Singaporeans, not when the corporation is foreign owned and resulting in a larger profit being repatriated.Foreign Corporations will normally bring in their more experienced staffs from their home base, and will not normally employ local staff more then necessary to keep the investment running, and keep the technology IN-HOUSE.
Rep: Lower corporate tax will invite foreigner and local to set up firm here. Am I right to say so.
Advantage can see immediately is to have more employments, create jobs.
A company will have operating expenses and capital expenses, bad dept and other etc. Profit is after minus all the expenses and also after tax.
Foreign owned corporation can result in larger profit being repatriated? Maybe you can advise us the method. (I would like to learn more)
What do company do with profit normally – pay increment, bonus package, dividends to shareholders and part of it as growth funds. If retained a big portion, the company is considered cash rich, I would advise you to buy the share at low.
When higher profit is retained in the company, the financial statement will be healthier. Am I right? Cash inside, less borrowing required.
Large income tax on Singaporean wage earners ?Is there any logic here ?
Rep: (Includes foreigner/local) Higher income to pay higher tax should be good for government collection – no doubt. If you ready have the heart for Singapore, you will stay.
Who will benefit from this large amount of money collected by the Singapore Finance Ministry, when the Singapore Government aka the Ruling Political Party do not believe in Welfarism ?It is too easy to opt out by simply declaring that the answer is outside of your proposal.
Rep: I am looking at total employment for local Singaporeans. (self sustain). Cannot answer for their behalf, itÂ’s outside my proposal
The only beneficiary to the vast amount of money accumulated in annual surplus is the Government, and without doubt transferring the same to the GIC and Temasek Holdings.
Rep:Cannot answer for their behalf, itÂ’s outside my proposal
Will Singaporeans benefit from the profit earnings of the various investments of the Singapore Assets from Foreign Companies taken over by the Singapore GIC and Temasek Holdings ?
Rep:Cannot answer for their behalf, itÂ’s outside my proposal
With a personal tax of 50% and more, will there be anything left for Singaporeans to contribute to the economy by way of individual consumption ?At whatever percentage point of tax being levied, the Relief Amount allocated is pure nonsense.
An income tax of 50% PLUS a 5% GST - this will result in Singaporeans being taxed into poverty.
Rep: Personal income tax come with relief, 50% is only a guide and not a must. Would you preferred to have higher 7%-10% GST then? That every commoner and businesses will have to suffer more.
It is ironical that it took the Father of Communism - Karl Marx - to recognise that to tax a Citizen more then FIFTY PERCENT is to commit ROBBERY.The fact remains that it is daylight robbery for anyone planning to implement 50% income tax, and more so for a government that do not believe in Social Welfare.
Rep: No comments on this, no my thinking.
If the Economy is to be brought back to life, the Singapore Finance Ministry will have to return to Singaporeans what they have allowed to be collected by the many increase in charges by the various essential service providers that are all GLCs operating with capital from the Singapore Government.Even Communist China recognised that loosening the purse string and declaring a longer holiday will help its economy to expand with domestic consumption by its billion size population.
Rep: Cannot answer for their behalf, itÂ’s outside my proposal.
With higher Personal Tax, and lower Corporate Tax - are you not defeating yourself in drawing the MNCs and encouraging SME start-ups but at the same time demoralizing the individual contributor who are needed to run the MNCs and the SMEs ?Good luck to you if you have deep pockets, and hopefully you still have the strength to scream when the pain sets in; but since you do not seem to be able to "affort to" pay for the pain that you are proposing for Singaporeans, how do you know that it will work ?
My view is for singaporean commoners. I will be proud of paying for that if I can affort to.
Well, Robinhood of the old days probably robbed the rich feudal lords of dark ages with the pure heart to ease suffering from exploitations and unjustness, one wonder if modern-day Robinhood wannabies will be as noble. What if he robs the rich while keeping some for himself and also plunder the rest.Originally posted by HENG@:ahahahhahaha
thread starter is damn hilarious
govt is playing sheriff of nottingham, more like it![]()
no. our govt is modern day sheriff of nottingham. rob the poor, take from the rich, but take a bit less from the rich to buy their loyalty, and keep everything for itself.Originally posted by robertteh:Well, Robinhood of the old days probably robbed the rich feudal lords of dark ages with the pure heart to ease suffering from exploitations and unjustness, one wonder if modern-day Robinhood wannabies will be as noble. What if he robs the rich while keeping some for himself and also plunder the rest.
as they say i'm robbing the rich and giving to the poor(me).Originally posted by robertteh:Well, Robinhood of the old days probably robbed the rich feudal lords of dark ages with the pure heart to ease suffering from exploitations and unjustness, one wonder if modern-day Robinhood wannabies will be as noble. What if he robs the rich while keeping some for himself and also plunder the rest.
Haha robbing with Robbinhood legitimacy is real genius as he could well rob till all are left with no ham and nothing.Originally posted by HENG@:no. our govt is modern day sheriff of nottingham. rob the poor, take from the rich, but take a bit less from the rich to buy their loyalty, and keep everything for itself.![]()