Unfortunately, S'pore's taxes -- direct, indirect and hidden -- will get more & more regressive over the years, hitting the bottom 50% more than the upper 50% on a relative scale.
The very recent lowering of corporate tax rate to 17% in order to compete against HK, together with hiking of property taxes highlights this trend. Govt has already said loss of corporate tax still able to be covered from other revenues.
I fully expect GST to be ramped upwards and govt to maintain high levels of property prices --- translates to record govt revenues from land sales and rentals.
Singapore - TV/Radio License Fee?!
ReplyDeleteSingapore - waterborne fee ? water conservation tax?
ReplyDeleteThe costly HDB is one of the highest hidden tax.
ReplyDeleteInflation is another hidden tax.
How about the high electricity price?
And as CPF becomes more and more difficult to withdraw within ones life time, it essentially becomes a hugh tax.
The Govt gives you a drum stick and takes two chickens from you.
ReplyDeleteUnfortunately, S'pore's taxes -- direct, indirect and hidden -- will get more & more regressive over the years, hitting the bottom 50% more than the upper 50% on a relative scale.
ReplyDeleteThe very recent lowering of corporate tax rate to 17% in order to compete against HK, together with hiking of property taxes highlights this trend. Govt has already said loss of corporate tax still able to be covered from other revenues.
I fully expect GST to be ramped upwards and govt to maintain high levels of property prices --- translates to record govt revenues from land sales and rentals.
I've always believed that CPF is a form of taxation. Its just packaged differently.
ReplyDelete