How I wish I would be residing in your country, the Singapore. Your country is rich; that is why, there are a lot of free taxes which the Singaporean may avail of. Annuity investment for those senior citizens poses a very beneficial to those persons that when they retire they may get the entire investment they have made without paying a single penny on their pocket. Singapore’s government is well-run by the honest people in their country.

You may be able to claim tax deductions on employment expenses ‘wholly and exclusively’ incurred in earning your income. This means you used your own money to pay for expenses necessary to your employment such as travel expense, entertainment expense, subscriptions,

Any income arising from sources outside Singapore and received in Singapore on or after 1 Jan 2004 by an individual (other than partners of a partnership) is exempt from income tax.

For a person who is a tax resident and a partner of a partnership, any income derived on or before 21 Jan 2009 from any sources outside Singapore and received in Singapore during the period 22 Jan 2009 to 21 Jan 2010 is exempt from income tax.

Poverty is a curse on earth and it is the creation of the politicians and they all are enemies to mankind. Poverty is the state for the majority of the world’s people and nations. Why is this? Is it enough to blame poor people for their own predicament? Have they been lazy, made poor decisions, and been solely responsible for their plight? What about their governments? Have they pursued policies that actually harm successful development? Such causes of poverty and inequality are no doubt real. But deeper and more global causes of poverty are often less discussed.

Behind the increasing interconnectedness promised by globalization are global decisions, policies, and practices. These are typically influenced, driven, or formulated by the rich and powerful. These can be leaders of rich countries or other global actors such as multinational corporations, institutions, and influential people.

In the face of such enormous external influence, the governments of poor nations and their people are often powerless. As a result, in the global context, a few get wealthy while the majority struggle.

I think these are the major causes of pverty all over the wolrd as Almost half the world — over 3 billion people — live on less than $2.50 a day.

The GDP (Gross Domestic Product) of the 41 Heavily Indebted Poor Countries (567 million people) is less than the wealth of the world’s 7 richest people combined.

Nearly a billion people entered the 21st century unable to read a book or sign their names.

Less than one per cent of what the world spent every year on weapons was needed to put every child into school by the year 2000 and yet it didn’t happen.

1 billion children live in poverty (1 in 2 children in the world). 640 million live without adequate shelter, 400 million have no access to safe water, 270 million have no access to health services. 10.6 million died in 2003 before they reached the age of 5 (or roughly 29,000 children per day).

@schenge I can relate to that. It is a matter of the urge for quick returns. If she invested those profits perhaps she would not have lost much in the long run.