In a clarification posted on Thursday, the Ministry of Finance says there is “no basis” to claims made by some online websites that the Government will raise GST after the next General Elections.
The MOF said that online rumours claiming that GST will be increased to 10% were “inconsistent with what the Government has recently stated”.
MOF emphasized that in DPM Tharman’s 2015 Budget Statement, he stated that “the revenue measures the Government had already undertaken will provide sufficiently for the increased spending planned for the rest of this decade”.
GST was first introduced 21 years ago in 1994 at 3 per cent. Since 2007, it has remained at 7%.