AS announced in the Pre-Budget Statement (PBS), our revenue for the first half of the year (H1) was lower than what was estimated in Budget 2021 – although up by 4.6% compared to the same period in 2020.
This has led to the reiteration of calls for reintroducing the now-defunct Goods and Services Tax (GST) as made in The Edge Market article, “Expected shortfall in govt revenue calls for tax system reforms, raising statutory debt limit” (Sept 3, 2021).
