Saktiandi Supaat on Finance (Income Taxes) Bill
With changes to be implemented in the Finance (Income Taxes) Bill, how many Singaporeans are expected to face zero income tax liability this year and how much less personal income tax revenue does the government expect to collect overall in the longer term? Can the lowest income tax brackets also be reduced? MP Saktiandi Supaat asked these questions in parliament on Thursday (Nov 6), where he suggested that Singapore could make its tax system more progressive not only by raising rates at the top, but by easing them at the bottom, if fiscal space permits.
With changes to be implemented in the Finance (Income Taxes) Bill, how many Singaporeans are expected to face zero income tax liability this year and how much less personal income tax revenue does the government expect to collect overall in the longer term? Can the lowest income tax brackets also be reduced? MP Saktiandi Supaat asked these questions in parliament on Thursday (Nov 6), where he suggested that Singapore could make its tax system more progressive not only by raising rates at the top, but by easing them at the bottom, if fiscal space permits.
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