Reports of Businesses Using GST Increase as Pretext for Price Increases and Measures Taken

Dr Wan Rizal asked the Minister for Trade and Industry (a) whether the Committee Against Profiteering has received cases of businesses using the Goods and Services Tax (GST) increase as a pretext for any increase in prices beyond the GST rate change; and (b) if so, what measures have been taken.

The Committee Against Profiteering (CAP) received 286 feedback submissions from 1 April 2022 to 31 January 2023. Of these, 26 cases involved specific allegations of Goods and Services Tax (GST) misrepresentation. CAP followed up on the feedback swiftly by working with partner agencies and organisations on the ground, including the Competition and Consumer Commission of Singapore (CCCP), the Consumers Association of Singapore (CASE) and the People’s Association (PA) to engage the relevant businesses to seek the reasons for the price increases. Thus far, the businesses engaged have been cooperative and have committed to being more transparent about their pricing with consumers. We will continue to monitor the situation closely.