Very simple, you ask Singapore govt to exempt all basic necessities and then see what rate of GST they can quote to maintain same GST collection if they do such exemption then you will know right? They have all the figures and only their figures can satisfy you since I know you are their very loyal follower..................................................
The reason why they don't want to basic necessities exemption despite know that GST impacts the old, retirees, and low income people the most, & they refused when other people have floated the same idea to them, already tell us a lot that the difference is very substantial............................................
As I goggled, I found:
\"VAT is a regressive tax: the poorest people spend a higher proportion of their disposable income on VAT than the richest people.\"
3Boys:kaking:It is a fact that UK exempt all basic necessities from their VAT, that is why their VAT needs to be high. Without the basic necessities exemption, obviously it can be very much lower, and obviously 3% is just an estimate but I believe should be around there, and I didn't pass it off as fact, hence I say is something like 3%........
[quote=\"3Boys\"]Pure speculation on your part. Try not to pass it off as fact.
In lieu of data, I have a hard time believing your numbers. Why not 4%? Why not 6%? Why not 18%?
Without knowing the potential contribution of basic necessities to the tax base, one can never make any kind of estimates. And I bet you don't know what that is. And not knowing what that is, 3% is just a number plucked from the air (just an estimate, as you say).
My guess is that it would be at 15%. There, my guess, as good as yours.[/quote]