Higher tax rates for top 5% of income-earners
But this is offset to varying extent by the rise in CPF salary ceiling to S$6,000
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Singapore
THE rich will have to pay more taxes under the redistributive Budget as Singapore continues to ensure a fair and equitable system of taxes and benefits.
The government will raise the marginal tax rates for the top 5 per cent of Singapore's income-earners though the impact is offset somewhat by the increase in CPF salary ceiling.
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