Tag Archives: gst

GST Being Charged On Water Conservation Tax

A reader was surprised upon reviewing his SP group utility bills. For the Water Services charges, the bill includes a Waterborne Fee and also a Water Conservation Tax. However to the reader's surprise, the final utility bill is inclusive of GST. So apparently the calculation shows that GST is being charged on the Water Conservation Tax.

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Pritam Singh: GST Is A Regressive Tax

In the post Budget debate in Parliament on Friday, WP's Pritam Singh reiterated the Workers' Party stance on the GST, even though DPM and Finance Minister has said that GST will not be raised in 2021, but will have to be raised eventually by 2025. In his speech, Mr Pritam Singh said that the WP still stand by their earlier comments, that the GST is a regressive tax, and that the tax raise would hit the low and middle income, retirees and seniors particularly hard as they would have to manage their expenditures more frugally, because offsets do not last forever.

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SG MEDIA SAYS RAISING TAX IS THE BEST WAY FORWARD!

So, is it any wonder that our Press Freedom ranking is 151st in the world? Almost every time that we hear that taxes need to be increased because of increasing social spending – there are hardly any details on the projected sums and how the increased tax revenue will be used? This is not the norm for practically every developed country in the world when they talk about raising taxes.

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IS THE PAP GOING TO RAISE GST SOON?

Auditing firm PricewaterhouseCoopers has released a white paper on Singapore calling for a review of Singapore's tax system to "reposition the Republic for value creation" and to fund more social and welfare programmes.

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ONLINE SHOPPERS MAY BE FORCED TO PAY GST FOR PURCHASES

According to recommendations by the Organization for Economic Cooperation and Development (OECD), governments should do more to collect taxes on goods that consumers order from overseas websites in the future. This in turn would lead to consumers being levied with higher taxes for purchased goods.

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FINANCIAL EXPERTS: GOVT TO INCREASE GST TO INCREASE REVENUE STREAMS SOON?

According to a report by BMI Research, the government will need new revenue streams as it seeks to strengthen social safety nets and increase support for low-income elderly citizens. “One key area to watch will be the goods and services tax (GST), which has been utilised by the government as a tool to shore up revenue amid declining income and corporate tax rates over the past two decades,” BMI Research said.

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NO GST INCREASE: IMPLICATIONS FOR SINGAPORE’S FUTURE

According to the Straits Times news report "No basis to claims of GST hike: MOF" (Aug 8) - "In its post, the Finance Ministry said that in the debate in Parliament on the Budget in February, Deputy Prime Minister Tharman Shanmugaratnam said the increased spending planned for the rest of this decade is sufficiently provided for by measures that the Government had already taken".

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