Singapore Boosts Taxes for Revenue

The video discusses Singapore's budget changes, including a GST hike from 7% to 9% between 2021 and 2025, and new taxes on imported services and residential properties. It highlights the country's reliance on investment returns and the need for alternative revenue sources due to rising expenses in healthcare, infrastructure, and education. The introduction of a carbon tax aims to improve energy efficiency and reduce greenhouse gas emissions, affecting large industrial facilities. These measures are part of Singapore's strategy to manage an aging population and economic challenges.

What are the expected impacts of the increased stamp duty on residential properties?

In what ways is Singapore's budget addressing environmental concerns?