Singapore Raises GST to 9%

The video discusses Singapore's competitiveness, emphasizing that the country competes on value rather than cost or tax alone. It highlights Singapore's strong position in various indicators, including the Bloomberg Innovation Index. The discussion also covers the importance of tax relativity and maintaining competitiveness in the global market. The video further explores the government's approach to property tax, focusing on progressivity and an equitable tax structure, rather than merely cooling the property market.

What is the primary basis on which Singapore competes in the global market?

• Geographical location

• Population size

• Value and innovation

• Cost and tax advantages

How does Singapore maintain its competitiveness relative to other markets?

• By increasing import tariffs

• By focusing on value creation

• By reducing corporate taxes

• By offering subsidies to businesses

What does the government emphasize when considering new revenue-raising measures?

• International trends

• Public opinion

• Relative competitiveness

• Absolute tax rates

What is the government's main goal in adjusting the tax system in Singapore?

• To cool down the property market

• To increase government revenue

• To ensure greater progressivity

• To attract foreign investors

What is the effect of buying a $2,000,000 property in Singapore under the new tax measures?

• A $5,000 tax increase

• No additional tax

• A $20,000 tax increase

• A $10,000 tax increase