Friday, October 15, 2021

Singapore studying how to expand wealth tax system as it relooks fiscal strategies: Lawrence Wong

Tang See Kit
15 Oct 2021 

SINGAPORE: Singapore continues to study how it can expand its wealth tax system as the country re-examines its fiscal strategies in the face of key challenges such as inequality and climate change, said Finance Minister Lawrence Wong on Friday (Oct 15).

Speaking at the 35th Singapore Economic Roundtable organised by the Institute of Policy Studies, Mr Wong said Singapore has succeeded so far in running a prudent and effective fiscal policy.

He said the task at hand will only become harder with three key challenges - inequality, a rapidly ageing population and climate change - that will determine the trajectory of the country’s fiscal strategies.

[This is just the start of the news article as it does not have any proposals or suggestions as to how the tax system could be revised. Merely a speech on what Singapore is looking to do.]

No comments: