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GST could be raised from 7% to 34%

Posted on 22 August 2013

Next raise will be from 34% to 1,235%, then 38,954%.

GST-refund

The Singapore Government is likely to raise the Goods and Services Tax (GST) to bring in more revenue to help build a stronger social safety net.

This after a slew of healthcare, housing and infrastructure initiatives were announced by Prime Minister Lee Hsien Loong during the National Day Rally on Sunday.

The increase in GST is expected to go up from 7% to 34%.

And once Singaporeans are accustomed to this rate, it will rise to 1,235%.

In a year’s time, it will settle at a low of 38,954%.

One economist, Gong Jiao Wey, said: “The increase might appear drastic in real terms, but at least we don’t have gun violence like Malaysia.”

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Wang Pei can be considered a new citizen of Singapore. She has been here all her life, just that her environment's changed beyond recognition.

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  • 2Truth

    Is this really true? How to survive?
    You eat in big hotel, food $100, GST $3,895,400? Wow, from now on, can only eat hawker food without GST.

    • New Nation

      Ya true

  • Dr Pon Ding

    Haha, can we even afford three meals at a restaurant or foodcourt or hawker centre now? Or go hungry.

  • Hen Hao Xiao

    NO laughing matter. PAP just gave out GST credits so they will recoup & even profit from other areas asap, be it income tax, COE, ERP, GST, electrical & water bills, fines, summons etc etc.. They said GST is to help the poor yet 10 years after it is introduced (and raised from 4 to 7 %) income equality widens, real wages diminish etc.

    btw, what is mothership in a nutshell?