Tax collections – SGD$745.5 billions (+21.9%)
Wow!!! So much? Who is paying all these monies?
The VAT rate was increased from 10% to 12% in Feb 2006.
The government expects to collect SGD$10.3 billions (+21%) this year.
This is due to expanded tax base and higher VAT rate.
More roads and bridges can now be built. Pls do that.