What is the rationale for imposing Goods and Services Tax (GST) on MediShield Life, CareShield Life and ElderShield 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. Therefore, it applies to MediShield Life, CareShield Life and ElderShield premiums.


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