Inheritance tax 'on the cards' in Singapore says MAS chief

A property gains tax or an inheritance tax is on the cards to address wealth inequality in Singapore, which would worsen over time if price increases in private housing consistently outstrip that in public housing, MAS managing director Ravi Menon has said. 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 Monetary Authority of Singapore's Menon on Thursday (July 22) at an Institute of Policy Studies lecture. The Singapore Straits Times further reported that he said the widening we...