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Implicit tax |
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Implicit tax |
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? Mentioned in | ? References in periodicals archive | |
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| There also appears to be little recognition given to the non-transparent nature of the Central Provident Fund's investment policies in Singapore, and the resulting large implicit tax on members' balances which is recurrent and regressive. But they must pay other taxes, as well, including any state and federal income taxes on those earnings; the Social Security and Medicare taxes they continue to pay; and the implicit tax of additional work-related expenses (6 percent to 13 percent of earnings, in most cases). This would reduce the implicit tax that banks currently bear. |
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