Singapore: Government expenditure requirements will lead to increased taxes in the near future

Lee Hsien Loong, the Prime Minister of Singapore, in his address at the 2017 Peoples’ Action Party (PAP) Convention, mentioned that the increase of the spending needs of the Government of Singapore, to support investment in the Republic’s economy, infrastructure, social services and safety nets, will inevitably lead to an increase in taxes for its citizens.

Experts say that the taxes which will most likely be increased, to accommodate the increased expenditure needs of the Government, including Goods and Services Tax (GST), Income-tax and Online shopping tax (GST charged on single shipment goods of over SGD $400).