Finance Minister Heng Swee Keat in his 2018 Budget statement on Monday said Singapore will raise its GST by 2 percentage points to 9% sometime between 2021 and 2025.
SINGAPORE (Feb 21): Credit Suisse is raising its 2018 GDP growth forecast for Singapore to 3.3% on the back of expectations of higher private consumption growth following the 2018 Budget announcement on Monday.
“The key surprise in the 2018 Budget was a later-than-expected implementation of a 200 basis point increase in the Goods and Services Tax (GST) to the 'earlier part of 2021-25',” says analyst Gerald Wong in a report on Tuesday.
