Singapore GST / VAT

Updated on May 22, 2022

In 1994, Singapore implemented the Goods and Services Tax (‘GST’) at a rate of 3%. It has risen to 7%. There are certain exceptions to the general rule that all taxable products and services are subject to GST, including financial services.

Requirement to register for Singaporean GST

For international enterprises making taxable supplies in Singapore, there may be a statutory duty to register for GST. Once registered, non-resident traders must comply with local filing rules (see below) (see below)

Typical instances necessitating a Singapore GST registration include:

Where items are delivered within Singapore;

If the foreign trader imports, installs or assembles items in Singapore GST laws;

Export of commodities from Singapore;

Supply of services where the place of supply is Singapore

Singapore GST registration threshold

SGD 1,000,000 a year is the yearly GST registration threshold for businesses in Singapore. If your yearly sales turnover is less than this threshold, you do not have to register.

Singapore fiscal representative

Even though a local Singaporean corporation isn’t required to register a foreign firm for GST, it is required to name an authorised GST fiscal representative. Both the representative and the firm are jointly and severally accountable to the Singaporean authorities for GST reporting and payment. Aside from this, the agent is in charge of all correspondence between the company and the Singaporean tax authorities.

Find out more about how the GST is implemented in Singapore by reading this article.

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