"......Goods and Services Tax will be rescheduled to take account of basic services which will be zero rated. Luxury goods will be subject to an increased GST tax. Property sales transactions above S$3,000,000 will be subject to a transaction tax. Inheritance tax on estates above S$10,000,000 will be returned to the tax structure."
Page 18 point C(57)
"A graduated GST will be introduced. It will range from zero-rated basic goods and services (food, medical care and products, and educational products and services) to a maximum of 10% for luxury goods (i.e. non-essential goods costing over S$500 each.)"
My comments
It is an over simplistic view.
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