Tag: Inflation

First stage GST hike next year with more to come to fund ageing population Singapore is increasing its Goods and Services Tax rate for the first time in 15 years announced today in the 2022 Budget. It will be in two steps: January 2023 rise

Singapore is likely to have to delay its long-planned Goods & Services Tax rise from 7% to 9% due to inflationary pressures.  It was suggested that it could be imposed in July 2022 to help meet the costs of an ageing population. However, it is