Officials from the administration have met with members of Singapore’s business elite and advisers to the rich to gauge their reactions and understand concerns, according to people familiar with the discussions, who asked not to be identified because of the delicate nature of the topic. The discussions took place through official feedback sessions as well as unofficial meetings over meals, they said.
Singapore’s government has been soliciting feedback on its tax regime, including having conversations around wealth taxes, as discourse grows around this potentially sensitive topic.
While the government regularly consults various industry groups on fiscal policies, the talks around such taxes appear to have picked up pace following comments by the central bank’s chief in July that expanding levies on the rich may be needed to address wealth disparity.
