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Map of the world showing national-level sales tax / VAT rates as of October 2019. A comparison of tax rates by countries is difficult and somewhat subjective, as tax laws in most countries are extremely complex and the tax burden falls differently on different groups in each country and sub-national unit.
[[Category:Singapore templates]] to the <includeonly> section at the bottom of that page. Otherwise, add <noinclude>[[Category:Singapore templates]]</noinclude> to the end of the template code, making sure it starts on the same line as the code's last character.
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 system is input-output based. Producers are allowed to subtract VAT on their inputs from the VAT they charge on their outputs and report the difference. [34] VAT is purchased quarterly. An exception occurs for taxpayers who state monthly payments. VAT is disbursed to the state's budget on the 20th day of the month after the tax period. [35]
[[Category:Singapore history and events templates]] to the <includeonly> section at the bottom of that page. Otherwise, add <noinclude>[[Category:Singapore history and events templates]]</noinclude> to the end of the template code, making sure it starts on the same line as the code's last character.
[[Category:Country data templates of Singapore]] to the <includeonly> section at the bottom of that page. Otherwise, add <noinclude>[[Category:Country data templates of Singapore]]</noinclude> to the end of the template code, making sure it starts on the same line as the code's last character.
Tax-free shopping (TFS) is the buying of goods in another country or state and obtaining a refund of the sales tax which has been collected by the retailer on those goods. [1] The sales tax may be variously described as a sales tax , goods and services tax (GST), value added tax (VAT), or consumption tax .
Value Added Tax (VAT) legislation has a common structure across countries (and states in case of India). Software must be customized to each country, however, because of differences in the some areas, such as handling of credit of capital goods, sale of scrap and second-hand goods, formats of mandatory submissions and audit exercises.