February 17, 2021
GST will also be extended to imported non-digital services for consumers.
Lianhe Zhaobao
SINGAPORE - The introduction of goods and services tax (GST) on low-value goods purchased online and imported by air or post will raise a lot more revenue for the Government, said experts.
However, how it will be implemented remains to be seen, as there are many factors to consider, such as getting overseas players to register, noted a panel of three discussing the Budget announcements.
The live session jointly hosted by The Straits Times and Money FM 89.3 was moderated by the radio station s presenter Michelle Martin, following the Budget speech by Deputy Prime Minister Heng Swee Keat on Tuesday (Feb 16).
SINGAPORE - The pandemic raised concerns over the resilience of global supply chains, but Singapore can work around it by focusing on and developing the regional market, said experts following the Budget speech by Deputy Prime Minister Heng Swee Keat on Tuesday (Feb 16).. Read more at straitstimes.com.
2/1/2021 10:34:54 AM GMT | By Pablo Piovano
Senior Economist at UOB Group Alvin Liew reviews the latest US GDP data published last week.
Key Quotes
“The 4Q 2020 GDP increased by 4.0% q/q SAAR (slightly missing Bloomberg Est 4.2%, but much better than UOB Est 0.0%), markedly slower from the record 33.4% surge in 3Q 2020. But if we exclude the record 3Q jump, the 4% growth in 4Q will be the highest growth since 3Q 2014. For 2020 as a whole, the economy contracted by 3.5%, slightly better than market (and our) expectations but it was still the worst contraction since 1946.”
“The growth in 3Q was again attributed to private consumption, business & residential investments and inventories, but their contributions notably were at a much slower rate compared to 3Q. Two components that previously dragged on US headline GDP in 3Q, continued to decline in 4Q, namely government fiscal stimulus and net exports of goods and services.”