Pushing back GST hike a right move amid challenging climate
Government also sets aside S$6b Assurance Package to cushion impact when it kicks in
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Singapore
THE government's decision to delay the increase in the Goods and Services Tax (GST) to some time between 2022 and 2025 was welcomed yesterday, coming amid the current gloomy environment.
On Tuesday, Deputy Prime Minister and Finance Minister Heng Swee Keat said the government will not raise the GST in 2021, but will instead defer the increase to some time between 2022 and 2025; it also set aside a S$6 billion Assurance Package to cushion the impact when it kicks in.
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