Originally Posted by
lsquare
Maybe my math is really bad, but where did you get the extra 8 from? Shouldn't it be 1.18?
Slightly OT, but I thought Singapore was supposed to be a low-tax country? I was surprised to learn the GST went up 1% this year!
1.1 x 1.08 = 1.188
The 10% and 8% are not cumulative and are in fact independent of each other.
Last year was still at 7%. This year went up to 8% and next year will be 9%.