Singapore delays highly-anticipated GST hike to 9% to between 2021-2025

SINGAPORE (Feb 19): Singapore will raise its good and services tax (GST) by 2 percentage points to 9% sometime between 2021 and 2025, according to Finance Minister Heng Swee Keat in his 2018 Budget statement on Monday.

"But I expect that we will need to do so earlier rather than later in the period,” he adds.

According to Heng, the exact timing of the tax increase will depend on the state of the economy, how much expenditures grow, and how buoyant existing taxes are.

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