GST hike not linked to past investment losses of GIC, Temasek: Indranee Rajah
Instead, contributions from the two bodies have enabled Singapore to keep taxes low, GST hikes at bay
Singapore
THE upcoming goods and services tax (GST) is not linked to past investment losses by Singapore sovereign wealth fund GIC and state investor Temasek Holdings, said Second Minister for Finance Indranee Rajah in Parliament on Tuesday.
In her response to Member of Parliament Henry Kwek (Nee Soon GRC), she said that both entities have in fact "made money over the long term" as their portfolios grew.
KEYWORDS IN THIS ARTICLE
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Economy & Policy
Daily Debrief: What Happened Today (May 3)
Singapore hotels’ average room rate grows in March; tourist arrivals reach new post-Covid high
Singapore retail sales up 2.7% in March, extending growth
Singapore and Canada to enhance science and technology cooperation
Singapore’s PMI dips in April but remains in expansion for 8th straight month
Daily Debrief: What Happened Today (May 2)