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Singapore introduces higher taxes for top earners

The top 1.2% of taxpayers in Singapore will soon have to pay more in personal income tax, Finance Minister Lawrence Wong said during his 2022 Budget speech on Friday. The top marginal personal income tax will be increased from the 2024 assessment year. Income in excess of S$500,000 up to S$1 million will be taxed at 23%, while that in…

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