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The taxman cometh: Singapore enforces higher taxes
The law and finance minister said the country now has a solid economy.
Bloomberg reports that Singapore will ensure its tax system is based on “solid” economic performance and the principle that higher income earners pay more, a senior government official said, after the prime minister signalled that the nation needs to prepare for tax increases.
“It must be all based on solid economic activity,” Indranee Rajah, senior minister of state for law and finance, said in an interview on Tuesday. She assessed that Singapore’s economy is "absolutely" in such a state now.
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