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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]
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. [ 87 ]
An indirect tax (such as a sales tax, per unit tax, value-added tax (VAT), excise tax, consumption tax, or tariff) is a tax that is levied upon goods and services before they reach the customer who ultimately pays the indirect tax as a part of market price of the good or service purchased. Alternatively, if the entity who pays taxes to the tax ...
[[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.
The perpetual system records revenue each time a sale is made. Determining the cost of goods sold requires taking inventory. The most commonly used inventory valuation methods under a perpetual system are: first-in first-out (FIFO) last-in first-out (LIFO) (highest in, first out) (HIFO) average cost or weighted average cost
[[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.
The oldest cost (i.e., the first in) is then matched against revenue and assigned to cost of goods sold. Last-In First-Out (LIFO) is the reverse of FIFO. Some systems permit determining the costs of goods at the time acquired or made, but assigning costs to goods sold under the assumption that the goods made or acquired last are sold first.
When adding the new line to the template, please arrange it according first to the year, and then according to the statute number. If the year of the statute already exists, it is unnecessary to add it again – just add the line with the statute number. If you need help, leave a message at "Template talk:Singapore legislation