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

Hats off to Singapore for raising taxes

City-state's brave move offers a new model for Asia

| Singapore
An aging population is among the changing economic environments forcing a change in Singapore's reputed low tax rates.   © Reuters

As Singapore meddles with the ultimate taboo -- hiking taxes -- Lee Hsien Loong's government is offering something truly shocking: leadership.

Japan's population is aging as rapidly as Singapore's and fertility is just as scarce, yet Tokyo keeps pushing the central bank to save the day. China faces risks of social unrest due to similar demographics, yet Xi Jinping thinks becoming president forever is the answer. Donald Trump's U.S. shares Singapore's inequality dilemma, and his response is massive welfare for plutocrats.

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