MAS chief says wealth tax could tackle wealth inequality in Singapore

MAS chief Ravi Menon said there may be a need for a property gains tax or an inheritance tax to address wealth inequality.- INSTITUTE OF POLICY STUDIES

SINGAPORE (The Straits Times/ANN): The chief of Singapore's central bank said there may be a need for a property gains tax or an inheritance tax to address wealth inequality in the Republic, which he noted will worsen over time if price increases in private housing consistently outstrip that in public housing.

To promote an inclusive society, it might make sense to shift the balance in Singapore's tax structure away from taxing income towards taxing wealth, said MAS managing director Ravi Menon on Thursday (July 22) at an Institute of Policy Studies lecture.