ACC309: The Goods and Services Tax (GST) in Singapore should Now be Abolished: International Taxation and Tax Planning Report, SUSS, Singapore

Assignment Details:

Comprehensively analyse the following statement and discuss your reason/s in support of your answer:

“The Goods and Services Tax (GST) in Singapore should now be abolished as it does not raise enough government revenue to support public and social needs”

Prepare a report comprehensively discussing the extent to which you agree or disagree with the above comment.

Your report must identify and discuss at least the following:

(i) The fundamental goals of the GST regime in Singapore;
(ii) The extent to which it should/should not be abolished, and why/why not?
(iii) The proportion of government revenue that the GST makes up in Singapore;
(iv) What government revenue derived from taxes, and more specifically the GST, funds public and social needs, and what these (i.e. the latter) are or comprise?
(v) At least one recommendation of what should and could substitute the GST, and why you believe that this option is viable?