Tag Archives: gst

1.6 million S’poreans to get GST Voucher letters

The Ministry of Finance (MOF) yesterday said 1.6 million Singaporeans will receive letters this week outlining the various benefits they will be getting. These include the 2014 Goods and Services Tax Voucher (GSTV), 2014 GSTV Special Payments, five-Year Medisave top- up as well as the Service and Conservancy Charges rebates. The MOF said about 1.3 million Singaporeans will receive the GSTV-Cash on Aug 1.

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BACK IN 2011, FINANCE MINISTER THARMAN SAYS GST WILL NOT BE RAISED FOR 5-YEARS

He said: "As Finance Minister, I have made that very clear in Parliament that at least for the next five years - it does not mean we will raise it in five years' time - but at least for five years, there is absolutely no reason to raise the GST, because this was the whole idea - we strengthen our revenue base in time. In fact, in the good years before the crisis, it came in very handy in the crisis but it is also going to come in handy in the next five years when we build our infrastructure in health, in infrastructure and we increase our support for the poor. That was the original motivation for GST, help the poor more and prepare Singaporeans for the future through investment income, two very solid sources of revenue to help us in the years to come."

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JOSEPHINE TEO: “GST VOUCHER IS A WHOLE SYSTEM OF BENEFITS”

The GST voucher is part of a progressive system of taxes and benefits that ensures that lower-income households get back far more benefits than the taxes they pay, including GST... The GST that they pay is hence far more than offset by the benefits they receive. - Senior Minister of State for Finance Josephine Teo

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Abolish GST to reduce cost of living & Govt still has surplus

The government collects $10 billion in GST each year and has a surplus of $30 billion in the budget, according to IMF accounting conventions. They can remove the GST totally and still have a fairly healthy budget surplus of $20 billion. Removal of GST totally will reduce the cost of living by at least 7% and could be more, if the saving in accounting and administration for GST and GST vouchers is considered. This will bring immediate relief to an economy that is heavily strained with high business cost, and a people that is suffering from high cost of living.

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800,000 HDB households to get S$45m in utilities rebates in April

About 800,000 Singaporean HDB households will receive S$45m worth of GST Voucher - Utilities-Save (U-Save) rebates in April. The GST Voucher - U-Save is the household component of the permanent GST Voucher scheme. It provides a direct offset on utilities expenses for households, and is paid out four times a year. In Budget 2014, a one-off GST Voucher - U-Save Special Payment was announced, with larger rebates for smaller flats.

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S$1.4m worth of contraband cigarettes seized

Four Malaysian men were Monday (Jan 13) each sentenced between 34 and 36 months’ jail each for their involvement in contraband cigarettes. The four men were arrested last Saturday after 14,999 cartons of contraband cigarettes worth S$1.4 million were seized, marking this the third largest seizure of contraband cigarettes in four years. The duty and Goods and Services Tax evaded exceeded S$1.1 million. Last Friday, the Singapore Customs and the Immigration & Checkpoints Authority conducted checks on a 12m container upon its arrival at the Tanjong Pagar scanning station. Checks revealed duty-unpaid cigarettes hidden in 16 pallets of board partitions.

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