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Singapore is one of the world’s easiest places to do taxes: study
Even if tax rate has increased.
Singapore concentrates resources on communication regulations and knowledge to taxpayers for a short, designated period. Countries who prioritise tax education enhance taxpayers’ awareness of tax rules and creates a friendly tax environment.
According to PwC’s Paying Taxes 2015, a company in Singapore takes 82 hours per year to comply with its tax obligations, much shorter than the global average of 264 hours.
The Singapore company makes five tax payments per year, compared to the global average of 25.9.
The total tax rate, meanwhile, is estimated at about 18.4 per cent, half of the global average 40.9 per cent.
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