Name: Tourists, foreigners living in Singapore account for half of GST collected in 2018 and 2019
Uploaded: 2022-11-10T16:40:55+00:00
Duration: 1 min 2 s
Description: Tourists and foreigners accounted for half of the net Goods and Services Tax collected in 2018 and 2019. About $200 million is refunded each year, making up 2% of the total GST collected. Parliament h

1 year ago

Tourists and foreigners accounted for half of the net Goods and Services Tax collected in 2018 and 2019. About $200 million is refunded each year, making up 2% of the total GST collected. Parliament has heard that resident households and individuals paid about $5.7 billion of GST between 2018 and 2019, after offsets from the $1 billion worth of GST Vouchers given to this group. The top 20% of all resident households make up close to 20% of the net GST collected.

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