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Singapore Raises Taxes on Wealthy Residents, Homes and Cars

Singapore is increasing taxes aimed at the city-state’s richest residents with levies on some incomes, property and cars all set to rise in a move expected to eventually raise a combined S$600 million ($447 million) a year.

Increased personal income taxes for those earning more than S$500,000 a year will raise an additional S$170 million, while new property taxes will net an extra S$380 million and car levies will give the government another S$50 million a year.