Search results
Results from the WOW.Com Content Network
Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.
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]
GST is charged at 8% on payment made in 2023 and at 9% on payment made after 1 Jan 2024. In this case, GST is charged at 8% on the $200 deposit paid before 1 Jan 2024 and 9% on the balance payment of $800 received on/after 1 Jan 2024.
The current GST rate in Singapore is 9%. GST-registered businesses are required to charge and account for GST at 9% on all sales of goods and services in Singapore unless the sale can be zero-rated or exempted under the GST law.
Digital Services. GST. Share: Need help in using myTax Portal? Browse the myTax Portal Technical FAQ. Before you can access the e-Services below via myTax Portal (except for GST Registered Business Search), please ensure that you have been duly authorised by the business to act for its GST matters via www.corppass.gov.sg.
In Singapore, the sale and lease of residential properties, financial services, investment precious metals, and digital payment tokens (from 1 January 2020) are exempt from GST. To learn more about the GST registration process and matters pertaining to the GST registration, please visit the IRAS website.
Goods and Services Tax or GST meaning is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT. The current Year 2023 GST rate is 8 percent in Singapore. GST Rate Hike.