GST, oh GST. This is one topic that Singaporeans love joking about. “Whoa, I rather meet a ghost than hear GST increase ah!” In fact, one of the most common sentences we see amongst Facebook commenters whenever there are government payouts is:

Realising that this is a concern amongst most Singaporeans, most political parties have drafted manifestos which included their take on GST and its future. Have you ever thought of what GST actually is? Or how has GST been like over the years? Let us take you through the journey of GST, and how it has evolved over time.

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What is GST?

The Goods and Services Tax (GST) is the broad-based tax levied on the consumption of goods and services in Singapore. In some countries, this is known as the Value-Added Tax (VAT). For most items that we buy in the stores, GST is already included in the advertised price....