Singapore Million Dollar Club Growing

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SingaporeA mixture of Singaporeans, permanent residents and foreigners, has increased the number of millionaires in Singapore, as released from the Inland Revenue Authority of Singapore (IRAS). Specifically, tax payers with more than $1 million assessable income amount to 4,220 with a combined income of $8.06 Billion. Data of the year 2011 shows the number of millionaires at 3,870 tax payers with a combined income of $7.45 billion. It is noticeable that Singapore, even though a country with strict regulation and taxes – it’s economy is structured to provide businesses and individuals the tools to succeed in combination with hard work.