 Re: What qualification do i need to have to b a success businessman?
Unfortunately, the tax laws are written for the business owners who take risk; not the high paid hard working employees. As an employee, your ways to reduce personal income tax is severly limited.
As you can see from the S'pore tax structure, corporate tax are lower than the highest bracket for personal income tax.
If you earn a very high salary, one of the method is to set up a company and let your salary flow through the company. A fairly competent tax strategist will be able to give you advice.
I've one MLM friend who earns so much money that he pay five digits for his income tax every year. Upon setting up a company, he let his commissions flow through the structure and drastically reduce his personal income tax.
The price to pay for such a strategic tax change is that every cent he earns and spend need to be documented. The big ticket items such as the Mercedes he is driving is not his but the company. But who the heck cares when he is still driving it!
~Ramcem  "The reasonable person accepts the world it is. The unreasonable person insists on changing the world to suit his own requirements. This is why all progress depends upon the unreasonable person." ~Anonymous "To be able to stand in the midst of darkness and live as though all about you is light, is the final test of the human spirit."
"The soul of man is immortal, and its future is the future of a thing whose growth and splendour have no limit." | 
