If I tell you, would you believe me?
If you don't believe me, why should I even bother to
respond.
You should seek clarification from IRAS or the Big 4s.
If it make sense I will believe you. So please tell us. (I hope
you are not going to start abusing the name of some
professors or university to back up your stupid statment)
Ask this of you, a
businessman with a chargeable income of $80,000 for year of
assessment 2007 and tax charge of $11,200, decides to keep
away from paying tax by giving his wife a 50% of his
sole proprietorship company shares, thereby reducing their total
tax payable from $11,200 to $6,800. The businessman effectively
cheated IRAS by avoiding the difference of the two tax
payable, which is $4,400.
