19 Feb '18, 9am

Singapore is facing a severe aging crisis, which is one reason why #SGBudget2018 is raising sales tax

Singapore Finance Minister Heng Swee Keat announced a range of tax increases in his budget, including a 2 percentage-point hike in the goods and services levy, to prepare for fiscal pressures that will come with a rapidly aging population. The government plans to raise the goods and services tax to 9 percent from 7 percent sometime from 2021 to 2025, Heng said in his budget speech in Parliament on Monday. He also set a carbon tax of S$5 a ton, and will impose a levy on imported services, like online video and music streaming websites. “There is a need to strengthen our fiscal footing,” Heng said. “In the next decade, between 2021 to 2030, if we do not take measures early, we will not have enough revenues to meet our growing needs.” Key Highlights from Budget GST to be increased to 9% from 7% sometime from 2021 to 2025 Budget surplus for FY2017 estimated at S$9.6 billion ve...

Full article: https://www.bloomberg.com/news/articles/2018-02-19/singap...

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Singapore Plans to Boost Goods and Services Tax...

bloomberg.com 19 Feb '18, 9am

Singapore Finance Minister Heng Swee Keat announced a range of tax increases in his budget, including a 2 percentage-point...

LATEST: Singapore plans to raise Goods and Serv...

bloomberg.com 19 Feb '18, 9am

Singapore Finance Minister Heng Swee Keat announced a range of tax increases in his budget, including a 2 percentage-point...

#SGBudget2018

#SGBudget2018

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Singapore to impose carbon tax from 2019

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Singapore to impose carbon tax from 2019

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