Tag Archives: Tax

Daiso Will No Longer Be $2, Blame It On GST!

What times we live in! Daiso will no longer be selling its items at S$2 each. From 1 May 2022, Daiso will add GST to their products. Daiso entered Singapore in 2003, and their prices has always remained at $2. Even when GST increased from 5% to 7% in 2007, …

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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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RAISING OF TAXES IS INEVITABLE, 70% VOTED FOR THIS

But investments and social spending are costly, and the Government must make sure it can afford them, he said. Speaking to about 2,000 activists at the PAP convention, Mr Lee said that while Singapore has enough revenue for this term of Government, spending has been going up and must rise further. And as Singapore’s spending needs grow, he stressed that Finance Minister Heng Swee Keat was right when he said that raising taxes is not a matter of whether, but when.

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