Please use this identifier to cite or link to this item: https://hdl.handle.net/10356/63716
Title: GST & Singapore
Authors: Chang, Siau Miin
Kueh, Sze Yian
Lim, Yoke Peng
Keywords: DRNTU::Business::General::Government policies
Issue Date: 1994
Abstract: On 9 February 1993, the Singapore government announced its intention to implement the Goods and Services Tax (GST) as a new tax. The GST will come into effect in Singapore on 1 April 1994, and the tax rate of 3% applies to almost all goods and services. The announcement was followed by a series of articles in the local newspapers and publications. The articles touched on how the GST works, and carried views of academics, tax professionals and the government on the implications of GST for Singapore. The reasons and motivations for introducing the GST are also tabled in the White Paper. The reasons proffered by the government for the introduction of the GST, and the series of concerns that arose, form the motivation for this paper. Here, we look into the economic concerns pertaining to t.he GST. In addition, we evaluate the validity of the reasons for introducing the GST and the possibility of meeting the objectives of introducing the GST. This paper will review the economics underlying taxation. Two case studies on countries which have implemented the GST, namely New Zealand and Japan, will be discussed. Results from interviews with academics, tax professionals and tax authorities in Singapore will be incorporated into our discussion of the GST in Singapore. Inferences will be drawn from the case studies , as well as the interview results, regarding the likely outcome of the GST in Singapore. We will then conclude on whether the objectives of the government for introducing the GST can be met.
URI: http://hdl.handle.net/10356/63716
Rights: Nanyang Technological University
Fulltext Permission: restricted
Fulltext Availability: With Fulltext
Appears in Collections:NBS Student Reports (FYP/IA/PA/PI)

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