It is good that the Consumers Association of Singapore has called for a review of the way the Goods and Services Tax (GST) is calculated for dutiable items.
At the same time, it is true that the same method of GST computation is used elsewhere, so any review should consider our manufacturing sector. (“Factory activity shrinks for third month; rebound expected”; March 4)
Economic theory says a trade deficit is not always a bad situation because it often corrects itself over time.
Free trade shifts the focus of nations towards their core competitive advantages, thereby maximising economic output and, in so doing, fostering income growth for their citizens.
However, these beliefs can be complicated by reservations in trade agreements, differing methods of reaching the final value of a good or service consumed here and elsewhere, and the sale of one’s currency by others.
If the cost of consumption is increased, would the returns from one’s pension fund be sufficient to offset that increase over time?
I hope that should any review be undertaken, it would also seek to identify unintended consequences and the mitigation, and not simply whether the intent or the interpretation of a consumption tax is accurate.
At the same time, it is true that the same method of GST computation is used elsewhere, so any review should consider our manufacturing sector. (“Factory activity shrinks for third month; rebound expected”; March 4)
Economic theory says a trade deficit is not always a bad situation because it often corrects itself over time.
Free trade shifts the focus of nations towards their core competitive advantages, thereby maximising economic output and, in so doing, fostering income growth for their citizens.
However, these beliefs can be complicated by reservations in trade agreements, differing methods of reaching the final value of a good or service consumed here and elsewhere, and the sale of one’s currency by others.
If the cost of consumption is increased, would the returns from one’s pension fund be sufficient to offset that increase over time?
I hope that should any review be undertaken, it would also seek to identify unintended consequences and the mitigation, and not simply whether the intent or the interpretation of a consumption tax is accurate.
