Singapore Moves to Ease Public Concern Over Impending Tax Hike
Singapore is taking steps to ease growing concerns over an imminent increase in taxes, including explainers on social media and in local newspapers over recent weeks to justify the need for the move.
From Facebook posts by the finance minister to articles and opinion pieces in the city-state’s main English-language newspaper, Singapore is seeking to win over a populace facing the largest price spikes in years and a tentative recovery from the pandemic.
The government has signaled its intention to announce an increase in the Goods and Services Tax to 9%, from the current 7%, in the upcoming budget Feb. 18, after opting not to do so last year after the coronavirus plunged the country into its worst recession since independence in 2020.
Officials have said that such a move is necessary now to address a sharp rise in health care and social spending, and restore finances after two years of pandemic-induced deficits.
Read more: https://www.bloomberg.com/news/articles/2022-02-09/singapore-moves-to-ease-public-concern-over-impending-tax-hike?srnd=premium
