SINGAPORE -- Some of Southeast Asia will see consumption taxes rise in early 2024, as countries such as Singapore and Malaysia move to broaden their financial base to support their aging populations and close holes in their budgets.
Economy
Singapore, Malaysia to raise consumption tax amid inflation fears
Southeast Asia balances fiscal needs against uncertain economy in 2024
A supermarket in Singapore. This chain, Sheng Siong, will roll out a three-month discount in 2024 on most of its items to offset the additional goods and services tax. (Photo by Tsubasa Suruga)
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