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Goods and Services Tax (GST) in Singapore is a value added tax (VAT) of 9% levied on import of goods, as well as most supplies of goods and services. Exemptions are given for the sales and leases of residential properties, importation and local supply of investment precious metals and most financial services. [1]
The following table shows the tariff rate, in percentages, according to United Nations Conference on Trade and Development (UNCTAD), [1] World Trade Organization, [2] and World Bank. [ 3 ] UNCTAD indicators are based on MFN (Most Favoured Nation) and effectively applied import tariff rates for major categories of non-agricultural and non-fuel ...
This is an accepted version of this page This is the latest accepted revision, reviewed on 20 January 2025. Economy of Singapore Skyline of Singapore's Downtown Core Currency Singapore dollar (SGD/S$) Fiscal year 1 April – 31 March Trade organisations WTO, APEC, CPTPP, IOR-ARC, RCEP, ASEAN and others Country group Developed/Advanced High-income economy Statistics Population 6,040,000 (2024 ...
Country or region Imports (millions of $) . Year United States 3,375,948 2022 European Union [n 1] 2,743,745 [3]: 2022 China 2,706,601 2022 Germany 1,571,057 2022 Japan ...
Goods valued up to US$500 [24] brought in by plane and up to US$300 by sea or land are free of duties and taxes, cellphones and laptop computers are duty free regardless of their value only one per passenger, clothing and other personal use items are free of taxes. Above those values, tax is 50% of the value of all acquired goods summed up.
As the Singapore Government's principal revenue collection body, IRAS collects Income Tax, Goods and Services Tax (GST), [4] Property Tax, Estate Duty, Betting and Sweepstakes Duties, Stamp Duties and Casino Tax. Blogging is taxable in Singapore if it constitute gains or profits from a trade or a business under section 10(1)(a) of the Income ...
On 9 December 2024, ACRA launched a revamped version of its Bizfile portal. The portal provides the public with access to various registry filing and business information services. According to ACRA, the key features of the revamped portal included "user-centric design and intuitive navigation features", "enhanced data integrity and governance ...
2 April – Joseph Schooling, who won Singapore's first ever Olympic gold medal, retires from swimming at 28. [25]15 April – Lee Hsien Loong announces his resignation as the Prime Minister of Singapore effective on 15 May 2024, paving the way for the assumption of Deputy Prime Minister and Finance Minister Lawrence Wong as the next Prime Minister of Singapore.