Singaporeans hit the malls on smart shopping spree before sales tax hike

Singaporean Soif Noor has already bought furniture and appliances for his new home, four months before he can move in. Like many residents, he's been on a spree - because on Jan. 1 Singapore's sales tax goes up for the first time in 15 years, Qazet.az reports.

From next year, the sales tax on everything from groceries to diamond rings goes from 7% to 8%. Barring a sharp global economic downturn next year, it will then rise to 9% in 2024 as the city state of 5.6 million people raises revenue to support its ageing population.