Property taxes are likely first stop for wealth tax review

Singapore

A REVIEW of wealth taxes to fund growing recurrent spending could centre on property taxes, with cooling measures potentially adjusted in tandem, say tax analysts.

However, they recommended a calibrated approach to any adjustments, so as to protect Singapore's competitiveness as a wealth hub. Having handled the pandemic fairly well, Singapore could even afford to wait a little longer and reap some benefits if other countries raise taxes first to fund Covid-19 measures.