GST hike not linked to past investment losses of GIC, Temasek: Indranee Rajah
Instead, contributions from the two bodies have enabled Singapore to keep taxes low, GST hikes at bay
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Singapore
THE upcoming goods and services tax (GST) is not linked to past investment losses by Singapore sovereign wealth fund GIC and state investor Temasek Holdings, said Second Minister for Finance Indranee Rajah in Parliament on Tuesday.
In her response to Member of Parliament Henry Kwek (Nee Soon GRC), she said that both entities have in fact "made money over the long term" as their portfolios grew.
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