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Old 21st November 2017, 05:37 AM   #2 (permalink)
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Re: Higher taxes inevitable, and Govt will explain ahead of hikes where money is going to: PM Lee

GST tax hike in S’pore ‘likely’ but not in near term, experts say

By Kenneth Cheng
Published20 November, 2017
Updated 21 November, 2017

SINGAPORE — Raising the Goods and Services Tax (GST) is the likeliest means through which Singapore could bump up tax revenues, though there is no pressing need to undertake such a "politically challenging" move anytime soon, economists and tax experts said on Monday (Nov 20).

They were responding to a speech by Prime Minister Lee Hsien Loong on Sunday, where he reiterated that it was a matter of when, and not if, taxes would be raised. While the Government has enough revenue for the current term, future expenditure is expected to go up significantly in areas such as social safety nets and services — including healthcare — and investments in infrastructure, he pointed out.

Read more at source:
http://www.todayonline.com/singapore...ly-experts-say

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