Singapore has become more costly than Hong Kong for many products that are manufactured in China and other countries. GST adds 7% to the cost of buying a product in Singapore (and Hong Kong has no GST) but imposes an additional cost due to compliance. Here is a way to reduce the compliance cost and make Singapore businesses more competitive.
http://tankinlian.com/admin/file.aspx?id=617
http://tankinlian.com/admin/file.aspx?id=617
Rex comments as follows,
ReplyDeletethe proposal of tax hikes and gst abolishment are very practical.
however without power you cannot implement anything.
the incumbent government is extremely stubborn and arrogant and will never admit that they made a mistake in their policies of gst and taxations.
Just like the ministerial salaries, for 10 years singaporeans have been cheated, raped and taken advantage of, with a dummy president fully endorsing the hemorrage of money from our national reserves, to flow to the pockets of unworthy and useless politicians.
It was only after 10 years that their salaries were slashed salaries 40+%, a simple decision which was dressed up to show as if it was a "controversial" decision taking one whole year.
PAP never admits that their vision was completely wrong in numerous areas. It is the style of The old one.
I hope Tan Jee Say can be our next prime minister and bury the old party 10 feet deep. TJS has the economics background and charisma and potential power to see through this.
The pap is completely inflexible and uncreative in many ways. In many ways, they have created a thriving system to serve mostly rich people, foreigners, corporate business, and connected people, whilst a large proportion of the population are disadvantaged.
In many ways we are like North Korea, the country may be rich and afford the best weapons, etc., but many local people are struggling, and worst still lose their dignity by having to work under foreign bosses.
rex
Compliance with GST has created non-productive yet highly-paid bean-counting jobs. Why should bean-counters be paid so much when they do not create much value compared to the bean-makers? We should pay more to bean-makers like engineers instead of bean-counters like the accountants. It is plain to see who create more value. Hence, this is one of the reasons why GST is bad.
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I'm confused. This post you state remove the GST and the previous post you state to increase taxes. Which is it?
ReplyDeleteThink about the world and as well as our own business. And in subject of tax it helps the government to maintain. compliance hong kong
ReplyDelete