IT has been 14 years since Singapore last raised its GST rate from 5 to 7 per cent. Arguably, any hike in taxes will be a bitter pill to swallow for those affected. For a consumption tax like GST, it is important that people and business have adequate time to adapt to the changes, while the lower-income and vulnerable are extended targeted support. The introduction of GST vouchers in 2012, which is now a permanent feature, bears testimony to this principle.
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