It is worth noting that any country's policies should be formulated according to its own economic, social and political situation. Singapore has successfully implemented this policy because it has the following characteristics:
1: The government is highly stable and transparent.
2. Singapore's tax system is relatively simple and efficient.
3. Singapore society has a high degree of trust in the public and the government.
4. The economic situation in Singapore is relatively stable.
If other countries want to emulate Singapore's policy, they need to make preparations in the above aspects to achieve similar results. In addition, this policy may also cause resentment and resistance from the rich, which requires political and social responses.