Finance Minister Heng Swee Keat has delivered the Budget statement on Monday, February 19. The total expenditure this year is expected to be S$80.0 billion, or 8.3% higher than in FY2017. As speculated, the goods and services tax (GST) will be raised from 7% to 9% some time between 2021 and 2025. The raise in GST will be implemented progressively so as not to place too much burden on Singaporeans. In addition, a new GST on imported digital services will also be introduced. Some Singaporeans also conjectured that there will be fees or taxes that would affect the wealthy. This was confirmed by the Budget statement, as it was announced that the Buyer’s Stamp Duty (BSD) rate for residential properties will increase from 3% to 4%. However, this will only affect residential properties in excess of S$1 million. A carbon tax of S$5 per tonne of greenhouse gas ......