What is the rationale for imposing Goods and Services Tax (GST) on CareShield Life premiums?
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 CareShield Life.
This information is sourced from MOH
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