Monday, March 18, 2019

Why GST is especially bad

Some people think that we need GST and cannot do without GST. They are mistaken.

There are many ways for a government to collect revenue to run the country - income tax, property tax, GST, consumption tax, import duties, excise tax, payroll tax, stamp duty, etc.

In Singapore, we have four additional sources of revenue that most other countries do not have - sale of leasehold land, motor vehicle taxes, levy on foreign workers and the earnings on investment of CPF funds (after deducting the interest paid).

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