Skip Navigation Links
29 Dec 2019  (781 Views) 
Ministry of Finance

Receipts are needed to recover GST

A person wrote to the St Times to complain about the wastage of paper in printing receipts for small purchases, e.g. supermarkets, etc.

I agreed. The receipts are hardly needed.

Another person replied that his company's accounts dept always insist on getting a receipt to recover the GST.

How wasteful. We are creating a lot of work, and wasting a lot of paper, just to handle GST. This is the hidden cost of GST that many people do not realize.

I call the GST system a "bits and pieces" system. We collect GST, refund it, collect again, etc. It is so wasteful and adds a lot of administrative cost.

I dislike the GST system of collecting and refunding "bits and pieces". I prefer that GST be entirely abolished and that the lost GST revenue should be recovered from income tax - if indeed it is necessary.

I believe that we can abolish GST without the need to replace the revenue, as the govt runs a big annual surplus.

If some revenue is needed, it can be collected as a tax on certain "luxury items", rather than collected GST in "bits and pieces".

Minister Heng - I hope you are listening.

Tan Kin Lian

Add Comment

Add a comment


QR Code