The rate will be increased from 7% now to 9% between 2022 and 2025 - before the current government’s term is up.
The government’s plan to raise goods and services tax (GST) rate as early as next year has not changed, said finance minister Lawrence Wong in Parliament earlier today.
The GST rate hikes were first announced by Wong’s predecessor Heng Swee Keat in his Budget 2018 speech.
