“We need to find a system of taxation which is progressive and which people will accept as fair,” Lee Hsien Loong said in an interview Wednesday evening with Bloomberg’s Editor-in-chief John Micklethwait at the Bloomberg New Economy Forum in Singapore.
stressed any wealth levies need to fit into a “fair and progressive” tax system, adding that more details could be included in the next budget, which will be announced in February. Wealth taxes are not new in Singapore, and the government has been raising taxes, for example on properties and cars, over the years.
No wealth tax.
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