“However, we will not be able to put off the increase indefinitely. We will still require recurrent sources of revenue to fund our structural spending needs in the medium term. The GST increase continues to be necessary sometime from 2022 to 2025,” says Heng.
SINGAPORE (Feb 18): Deputy prime minister and Minister for Finance Heng Swee Keat said that the GST increase which was announced last year to be increased to 9% by 2021, will be delayed.
At today’s Budget 2020, Heng said that GST rate will remain at 7% in 2021.
