WP clarifies their position on regressive GST upon being probed, says it does not oppose GST
Since the GST was introduced on 1 April 1994, the WP had opposed it as a ‘regressive’ tax. At every stage also when the GST was hiked – 4% in 2003, 5% in 2004 and then 7% in 2007 – the WP had opposed it. Had it not been for the recent exchange in Parliament […]
Lawrence Wong cautions PSP and WP against pricing Singapore out of competition
One year ago during the budget debate in 2022, the WP suggested that corporate tax be raised in lieu of the GST hike. In particular, WP MP Louis Chua suggested that raising the corporate tax rate to the proposed global minimum effective tax rate of 15 per cent, under Pillar Two of BEPS 2.0, could […]
There is no escaping the GST hike starting next year. Here’s how you can cope with rising costs.
Goods & Services Tax (GST) will proceed to increase from the current 7% to the proposed 8% from 1 Jan 2023 and subsequently to 9% from 1 Jan 2024. With the rise in GST, the cost of living goes up and workers bear the brunt, especially those from the lower to the middle-income group. Thankfully, […]