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Five Ways Singapore Could Increase Taxes on the Rich

Singapore may impose more taxes on the wealthy as it seeks more inclusive growth, its next prime minister Lawrence Wong signaled in an interview with Bloomberg News Editor-in-Chief John Micklethwait on Monday.

The Southeast Asian financial hub, which has been a magnet for the well-to-do thanks to its low tax rates and modern infrastructure, is already planning to raise income taxes for its richest residents, as well as duties on high-end property and luxury cars.