Nine percent GST rate is upon all Singaporeans, starting January 1st of 2024. Here's, one final time, one chart and two reasons which explain why the tax is going up. Reason no. 1: the society is getting older, requiring higher expenses i.a. on healthcare from the national
Remember Jamus Lim proposing wealth taxes of up to 2% for Singapore? Well, this is what has just happened in Norway, after the government bumped the local wealth tax rate by 0.1%. Norway is one of the few countries which is taxing wealth, at a combined rate of 1%
So, Pritam Singh chose to grandstand again, this time preaching about the dangers of division of the country into two Singapores. To fight it he urges more wealth redistribution! And then he chose to circulate what I'm sure his party colleague would call "folksy wisdom", that
So far, the only alternatives to the impending GST hike in Singapore are based on taking money from somewhere else. But what if there was one that didn't require any new taxes or draining the reserves? In fact, what I'm about to point to is one
I think it's worth reminding all of those complaining about the bump in GST that, actually, both PAP and WP agree that more money is needed. It's not like the government is somehow raiding the pockets of millions of Singaporeans, while the opposition is up in
So, the amendment of the GST bill is proceeding through the parliament, meaning the hike is just around the corner. And, I know, we've been through this topic many times already. We've heard it all from politicians (both PAP and opposition) arguing for and against the
Conventional knowledge suggests that economic crises are not the best time to increase taxes. After all, they tend to add to the burdens already faced by the economy at a time when it should be lifted. So, why is Singapore pressing with the GST increase to 9% by 2024? Firstly,
I remember when I first heard how much it costs to buy a car in Singapore I was absolutely astounded.With all the import taxes and COE the sum you have to pay for a mid-range hatchback could let you very nearly buy a supercar in Europe. The thing is,
I've long observed that the government in Singapore, while delivering a solid performance, has problems with communicating it clearly to the public. One such example is the impending GST increase to 9%, which was tentatively announced back in 2018 and is now planned to take place by 2024.
Lee Kuan Yew would not be pleased.
