Friday 29 Mar 2024
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SINGAPORE (Feb 18): Deputy Prime Minister and Minister for Finance Heng Swee Keat said the 9% increase in GST by 2021, which was announced last year, will be delayed.

At today’s Budget 2020, Heng said that GST rate will remain at 7% in 2021.

“However, we will not be able to put off the increase indefinitely. We will still require recurrent sources of revenue to fund our structural spending needs in the medium term. The GST increase continues to be necessary sometime from 2022 to 2025,” says Heng.

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