Please use this identifier to cite or link to this item: https://scholarbank.nus.edu.sg/handle/10635/170424
Title: THE IMPACT OF GOODS AND SERVICES TAX ON INCOME DISTRIBUTION OF HOUSEHOLDS IN SINGAPORE : A PRELIMINARY STUDY
Authors: REGINA TAN
Issue Date: 1994
Citation: REGINA TAN (1994). THE IMPACT OF GOODS AND SERVICES TAX ON INCOME DISTRIBUTION OF HOUSEHOLDS IN SINGAPORE : A PRELIMINARY STUDY. ScholarBank@NUS Repository.
Abstract: Singaporeans face far reaching changes in their taxation system as a result of the Goods and Services Tax (GST) proposed by the Government. The Government plans to trade-off the GST with lower corporate and personal income tax rates. This shift in the burden of taxation away from income to consumption is a move engineered to give a boost to the competitiveness of the Singapore economy. This study investigates the impact of the GST on income distribution of households in Singapore. The after-tax income of households is considered after taking into account the tax cuts, reliefs and rebates proposed by the Government to offset the regressive impact of the GST. It is found that the GST will worsen the income distribution of households in Singapore. Using the theory of equivalence of taxes in economics, it is found that even though the nominal income tax rates for all household income classes will decrease, the effective income tax rate will increase as a result of GST.
URI: https://scholarbank.nus.edu.sg/handle/10635/170424
Appears in Collections:Bachelor's Theses

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