Singapore said to canvass wealth circles on tax ideas

Singapore's low taxes and stability have long attracted the world's wealthiest.
Singapore's low taxes and stability have long attracted the world's wealthiest.PHOTO: ST FILE

SINGAPORE (BLOOMBERG) - Singapore's government has been soliciting feedback on its tax regime, including having conversations around wealth taxes, as discourse grows around this potentially sensitive topic.

While the government regularly consults various industry groups on fiscal policies, the talks around such taxes appear to have picked up pace following comments by Monetary Authority of Singapore (MAS) chief Ravi Menon in July that expanding levies on the rich may be needed to address wealth disparity.

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