SINGAPORE: Singapore will be raising its taxes as government spending on investments and social services grows, said Prime Minister Lee Hsien Loong on Sunday (Nov 19). "(Finance Minister) Heng Swee Keat is right when he said that raising taxes is not a matter of whether, but when," said Lee at the People's Action Party (PAP) annual convention. Singapore had introduced their GST in 1994 - 21 years before Malaysia introduced its own in 2015. Two years ago in 2015, Singapore had also raised the petrol tax - RON95 rose by 15 cents (46 sen) per litre to 56 cents (RM1.72) per litre. Unlike Singapore, Malaysia does not tax petrol.

Source: The Star November 19, 2017 13:41 UTC