Heng Swee Keat, Singapore’s Finance Minister, has
announced that there are plans for the goods and services tax to rise two more
percent to 9% from 2020-2025. He commented that the increase will be a
progressive one. The tax will be applied to goods and services in Singapore and other imports worth over $300 USD.
Couples requiring a divorce lawyer in Thailand must meet the grounds
of divorce in Thailand, having one of the spouses residing in
the country.
The GST increase will be implemented to close the
“gap” for future expenditure on infrastructure, spending, healthcare etc. The
apparent two percent increases will boost revenues to 0.7% of the GDP and help
to close the gap. The increased rate will take effect when the state of the
economy is at its prime.
The increased GST will be applied to public
schooling, healthcare, aid to lower income households and seniors. Singaporeans
will be offered an offset package to help adjust to the increased rate. There
are still discussions on how the import of goods will be dealt with.
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