Taxing wealth: no silver bullet

THIS WEEK'S TOPIC: Should wealth be taxed more? How might this be done in Singapore, if so?

Yeoh Oon Jin Executive Chairman PwC Singapore

TAX policies must be carefully balanced so that tax revenues are not raised at the expense of economic growth. The taxation of capital gains per se can compromise Singapore's position as a major financial hub. We must continue to focus on the benefits of growing the funds and capital markets sector as a means to provide alternative capital to fuel growth for Singapore businesses and to grow our economy.