Three Singaporean Buyers Confirmed For $3.6m Pagani Supercar
Mar 4, 2012 | 07:50 PM
#22
Teamspeed Pro
Joined: Feb 2008
Posts: 1,179
From: San Francisco | Jakarta | Taipei
Great news for both Pagani and Singapore. I have heard a lot of whining about expensive cars in Singapore, but have you guys ever calculated the income taxes there in comparison with US and majority of EU countries? Basically from EUR10M earned I can have a Huayra for free only from the difference in tax amount. I have done that lesson and you know picture changed a bit for me. With all that said its correct only in HK/SG, but it isn't the case for Mainland China, Taiwan, Thailand and others, those countries are taxing the crap out of resident on both incomes and cars.
I have had these conversations often with all my friends back in Asia, and every time we crunch the numbers they all stfu. My Indonesian brothers have been the most ignorantly blessed bunch, who constantly complain about the 300% tax on automobiles, but they conveniently forget to share that in Indonesia, folks get away with paying little (under 4%) to zero income tax
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