Wealth tax? The question has never been one of whether to tax wealth but how to do it effectively: IndraneeEurope's experiment with wealth tax failed. For Singapore, it's never a question of whether to tax wealth but how to do it effectively so that it works and is sustainable, says Second Minister for Finance Indranee.
WP Jamus cited Switzerland as an example of a country that has succeeded with wealth tax. But even with its 'success', the amount of revenue they collected from net wealth tax, estate duty and property-related tax is 1.9% of GDP. This is comparable to Singapore’s wealth tax revenue at about 1.8% of our GDP.
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https://sgmatters.com/wealth-tax-the-question-has-never-been-one-of-whether-to-tax-wealth-but-how-to-do-it-effectively-indranee/
