Singapore

ERRANT firms which seek to profit from the upcoming goods and services tax (GST) hike may have their actions made public, but businesses which raise prices due to genuine cost pressures will not face action from the authorities.

It would not be acceptable for businesses to use the GST as a reason for raising prices before it is implemented in 2023 and 2024, said the Committee Against Profiteering (CAP) in a statement on Wednesday (Mar 16).