After winning a historic election, Singapore’s ruling party PAP is expected to stick to the relatively more populist policies that it has unveiled in recent years.
According to a report researched by BMI Research on 14 September 2015 that after the ruling party PAP has won the General Election it is a prime candidate for adjustment toward the GST (Expert say)
the government will need new revenue streams as it seeks to strengthen social safety nets and increase support for low-income elderly citizens.
With an increase in GST it is important to know that there will be a huge impact on the low-income earner as well , while we looked back on a recent report by state-controlled media there was no basis to claim of GST hike but there is also no promise that it will not raise the GST in order to provide more revenue stream for the government.
the report also added that
“While the recent increase in the top marginal income tax rate will provide some support to the government’s annual intake, Singapore’s ageing population and the government’s growing commitment towards supporting low-income elderly citizens will likely necessitate additional revenue streams, and an increment to the current GST level of 7.0% is a prime candidate for adjustment,”
http://www.sgcoldtruth.com/gst-will-increase-to-provide-more-revenue-for-the-government/
According to a report researched by BMI Research on 14 September 2015 that after the ruling party PAP has won the General Election it is a prime candidate for adjustment toward the GST (Expert say)
the government will need new revenue streams as it seeks to strengthen social safety nets and increase support for low-income elderly citizens.
With an increase in GST it is important to know that there will be a huge impact on the low-income earner as well , while we looked back on a recent report by state-controlled media there was no basis to claim of GST hike but there is also no promise that it will not raise the GST in order to provide more revenue stream for the government.
the report also added that
“While the recent increase in the top marginal income tax rate will provide some support to the government’s annual intake, Singapore’s ageing population and the government’s growing commitment towards supporting low-income elderly citizens will likely necessitate additional revenue streams, and an increment to the current GST level of 7.0% is a prime candidate for adjustment,”
http://www.sgcoldtruth.com/gst-will-increase-to-provide-more-revenue-for-the-government/
