WP propose
"Exempt Essential Items from GST"
1 talk is cheap, when you implement, what are the overall pro and con?
How can we define essential ?
In NTUC online, rice per 5 kg,, range from $9 to about 40..
https://www.fairprice.com.sg/search?query=rice 5kg&sorting=PRICE_DESC
2
say a slice of cake, range from few dollars to 20 ? shall we exempt all ?
The admin cost of define essential add cost to shop and super owners.
https://www.wp.sg/manifesto
Exempt Essential Items from GST
The WP proposes to exempt more essential goods from GST, including basic food items. This would ease the effects of inflation for low-income groups and offer relief to middle-income groups who receive less support from GST vouchers.
GST adds to the cost of goods and services and increases the cost of living and business costs directly. GST vouchers partially offset the burden of this tax for the lowest income groups. However, they are less effective when you take into account rising prices, as inflation increases the effects of the GST.
Concerns about the increased compliance costs and administrative burden to increase exemptions are unjustified, given the current patchwork of credits, vouchers, rebates and subsidies already in place. Singapore also already has a long list of GST exempt or zero-rated supplies, including most public healthcare services, public education, public transportation, the sale and rental of residential properties and many financial services.
Additional Support for