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The salary of civil servants is organised into grades, with employees also being entitled to bonuses. The salary of Members of Parliament (MPs), Cabinet ministers, judges, the attorney-general, speaker, and auditor general are also based upon this scale.
Individual income tax in Singapore is payable on an annual basis, it is currently based on the progressive tax system (for local residents and tax residents), with taxes ranging from 0% to 22% since Year of Assessment 2017.
This is the map and list of Asian countries by monthly average wage (annual divided by 12 months) gross and net income (after taxes) average wages for full-time employees in their local currency and in US Dollar. The chart below reflects the average (mean) wage as reported by various data providers.
Singapore's ministers are the highest paid in the world. Prior to a salary review in 2011, the prime minister's annual salary was S$3.07 million, while the pay of ministerial-level officers ranged between S$1.58 million and S$2.37 million.
430 (2020) Albania *. 364 (2019) Uzbekistan *. 351. Kyrgyzstan *. 228 (2021) Note: This statistics is not entirely accurate as for example in Albania that number is minimal wage back then not average.
As of January 2012, the Mayors are paid an annual salary of S$660,000 (US$486,500). See also. Singapore portal
Salary: S$550,000 annually (including S$192,500 MP salary) Website: www.parliament.gov.sg
The Central Provident Fund Board ( CPFB ), commonly known as the CPF Board or simply the Central Provident Fund ( CPF ), is a compulsory comprehensive savings and pension plan for working Singaporeans and permanent residents primarily to fund their retirement, healthcare, education and housing needs in Singapore.
The economy of Singapore is a highly developed mixed market economy with dirigiste characteristics. Singapore's economy has been consistently ranked as the most open in the world, the joint 4th-least corrupt, and the most pro-business.
In December 2020, the unemployment rate is 3.2 per cent during the COVID-19 pandemic in Singapore. As of November 2022, unemployment rate is 1.9 per cent with Singapore resident unemployment rate at 2.8 and Singapore citizen unemployment rate at 2.9 percent.
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