ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

Singapore seen hiking GST for first time in over a decade

Government says it needs revenue boost to pay for ageing population

The Singapore skyline from Merlion Park at sunrise (Getty Images)

SINGAPORE -- Singapore is expected to raise goods and services tax for the first time in more than a decade sometime in the fiscal year starting in April, say economists. 

Francis Tan, an economist at United Overseas Bank, sees the government hiking GST to 8%, from the current 7%. He expects another hike to 9% next year.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more