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What is the rationale for imposing Goods and Services Tax (GST) on ElderShield premiums?
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We have a broad-based Goods and Services Tax (GST) system, with minimal exemptions as this approach helps to keep the GST rate relatively low. GST is a tax on domestic consumption of goods and services, and is payable on insurance contracts such as health, motor, and fire insurance. GST is therefore payable on premiums for ElderShield.
This information provided here is sourced from the MOH website.
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