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Pension fund boss pushes for 'Pay-As-You-Spend' tax

Close up view of elderly hands putting money in a piggy bank. [Getty Images]

CPF Financial Services has proposed a change in the tax regime, citing shortfalls in the government's current revenue collection structure.

Group Managing Director Hosea Kili in a proposal forwarded to the National Dialogue Committee wants a consumption-based tax regime, which should also be linked to social protection.

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