Reuters: Singapore poised for first sales tax hike in more than a decade

[Hangover]

Singapore poised for first sales tax hike in more than a decade
https://uk.reuters.com/article/us-s...-tax-hike-in-more-than-a-decade-idUKKBN1FX0GQ

Nine of 10 economists polled by Reuters think authorities on Monday will unveil the first rise in the goods and services tax (GST) since 2007. Policymakers have flagged the need to increase revenue to meet future social spending needs of a rapidly ageing population.

Eight of the 10 economists polled expect the government to widen the net on e-commerce transactions subject to the GST.

Several economists also suggested there could additional taxes on wealth, such as an increase in annual property taxes, as well as higher rates on alcohol and tobacco products or even a new tax on sugar consumption.

 

[Lizzert]

Empress Dowager's trading accounts all kena Margin call..Huat Ah

 

[Hangover]

State revenues in the next 12-24 months should be significantly higher because of the en bloc fever and development charges.
Why hike the other taxes?

Money is never enough.

 

[ToaPehGong]

After sugar, we should be taxing salt

 

[Scrooball (clone)]

This next budget is going to be real shit for sure. That's why they hired a bunch of useless influencers to soften the impact.

Unfortunately, nothing can salvage a tax raise.

 

[OrLanChowHorFun]

30% water hike = already GST hike

 

[mojito]

This next budget is going to be real shit for sure. That's why they hired a bunch of useless influencers to soften the impact.

Unfortunately, nothing can salvage a tax raise.

No such thing as shit budget. Politics is about trade offs. Whose interests we will trade for whose benefit. We must also look at the good. Don’t just focus on the bad. Cheer up!