SINGAPORE: Singapore on Friday announced steep increases in alcohol, gambling and tobacco taxes as it pledged billions of dollars in healthcare subsidy for its growing ranks of elderly citizens.
Liquor taxes will be raised by 25 percent with immediate effect while duties on tobacco products will jump by 10 percent, Finance Minister Tharman Shanmugaratnam told parliament as he announced the government's 2014 budget.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!