Tag: Budget 2018

GST to be imposed on overseas vendors

Singapore’s GST will be imposed on foreign vendors in a new formula that imposes GST on imported services.However, the new goods and services tax formula on imported services will take effect in 2020.It was announced in the Budget 2018 by the Minister for Finance...

WP does not support the impending GST hike: Pritam Singh proclaims at budget debate

The Workers' Party's assistant secretary-general Pritam Singh proclaimed at the budget debate today that his party does not support the plan to hike the Goods and Services Tax (GST) some time from 2021 to 2025.Finance Minister Heng Swee Keat announced last Monday that the GST...

Singaporeans benefit today from having strong reserves, Sing$

Seow Bei YiKeeping half of Singapore's earnings from its reserves is important as it signals to currency markets the strength of the Singapore dollar, Minister in the Prime Minister's Office Chan Chun Sing has said.Mr Chan cited this as an "important reason" the Government...

Finance Minister Heng Swee Keat Emphasizes Importance of Rise of GST

In a forum at Mediacorp held on February 21, just after the Budget Roll-out, Finance Minister Heng Swee Keat recognized that many are anxious about the increase in Goods and Services Tax (GST). However, he sought to address everyone’s concerns by emphasizing the importance...

GST: Don’t tax the poor

Do we need to raise the GST?Ah, you may be asking the wrong question. Or are we? “We are not raising the GST now but we are giving you notice that we will be raising it by two percentage points from 7 to 9...

Trust between “millionaire ministers” and the people “has never been so low”: SDP video trends online

The Singapore Democratic Party (SDP) has released a video questioning Government spending on social media, yesterday. The video, which comes just a few days after Finance Minister Heng Swee Keat delivered Budget 2018, has been trending online with over 32,000 views, and over 1,000...

“Your budget makes no sense at all” – Open letter to PM Lee challenging Budget 2018 trends online

An open letter to Prime Minister Lee Hsien Loong on Budget 2018 has been trending on social media. It is unknown who originally wrote and circulated the letter but the letter has been making its rounds on Facebook and WhatsApp from yesterday.The letter lists...

Tax the wealthy instead of burdening average Singaporeans with GST hike: Ex-NMP

Former Nominated Member of Parliament (NMP) Calvin Cheng has challenged the GST hike that Finance Minister Heng Swee Keat announced earlier this week during Budget 2018.Taking to Facebook, Cheng criticised the "mixed messages" the Government seems to be giving, what with the two per...

Netizens clamor for ministerial pay cut as Indranee Rajah defends GST hike

Senior Minister of State for Law Indranee Rajah has earned the ire of some Singaporeans after she commented on the impending Goods and Services Tax (GST) hike that Finance Minister Heng Swee Keat unveiled in his 2018 budget speech on Monday.Speaking at a REACH...

Budget 2018 bets on Asia for good reason

By Vikram KhannaEarly on in his Budget speech on Monday, Finance Minister Heng Swee Keat identified three "major shifts" in the longer term for which Singapore should better prepare. The first of these, he suggested, was the shift in the global economic centre of gravity towards Asia.Of course,...