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Broadening Singapore's tax base to sustain long-term growth

A good mix that goes beyond traditional notions will help widen the net and help secure Singapore's future

While Singapore's taxation system has always been pro-growth, anchored by the principles of fairness and progressiveness, it also has to look at loopholes in the digital economy such as movie and music streaming services, software subscription fees and apps.

IN 2017, the Committee on the Future Economy spelt out bold strategies to take Singapore forward over the next decade. Its report recognised that Singapore may have to raise tax revenue over time to meet rising domestic needs.

Indeed, tax collection will need to increase in order to build...

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