What steps can be taken to reduce GST on health insurance policies as demanded by the opposition
Suggest measures to address the opposition's demand for reducing GST on health insurance policies.
- Conduct a thorough review of the current GST rates on health insurance policies to assess the impact on policyholders and the healthcare sector.
- Consider reducing the GST rate or providing tax exemptions specifically for health insurance policies to make them more affordable for the public.
- Evaluate the potential revenue implications and explore alternative sources to make up for any shortfall from reduced GST on health insurance.
- Engage in discussions with stakeholders, including insurance companies, healthcare providers, and policyholders, to gather insights and perspectives on the issue.
- Implement appropriate policy changes based on the findings and considerations to address the demand for reducing GST on health insurance policies.
Answered
10 months ago