Where the parties stand on key issues ahead of GE2025
As Singapore gears up for GE2025, key issues like fiscal policy, cost of living, housing, and foreign talent are in focus.
In a recent Straits Times article exploring fiscal strategies, Gene Kwee, our Partner and Head of Tax APAC at Forvis Mazars, offers his expert take on GST and wealth taxes amid rising living costs.
Gene highlights that Singapore’s single-rate GST is efficient, simple, and widely understood. Switching to a tiered system, he warns, would require a major overhaul of accounting and tax frameworks, plus significant public education to keep businesses and consumers informed. On wealth taxes, he sees potential to address fiscal and social goals but cautions that careful design is critical to avoid pitfalls like capital flight.
“Striking the right balance between equity, economic competitiveness, and administrative feasibility will be key,” Gene concludes.
Check out his full insights and how parties are tackling fiscal policy here on The Straits Times.
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