what is GST

in Singapore

Goods and Service TaxGST is a short form of Goods and Service Tax. Similar to the Value Added Tax (VAT) in few countries. It is a consumption tax on most domestic goods and services.

Source: iras.gov.sg

GST is applicable

for local sales

and services, for

example sale of a

TV, provision of

spa services &

more

Current GST Rate

Singapore’s GST current rate is 7%

Previous GST rates:

Year GST Rate1994 to 2002 3%

2003 4%

2004 to Jun 2007 5%

Jul 2007 to onwards 7%

Is GST registration compulsory for

your business?

Is your annual turnover more

than $1 million?

You must register for GST

Not required to register but

can opt for voluntary

registration

You can register voluntarily for GST when

Your annual revenue does not exceed S$1

million

You only supply goods outside Singapore

Exempt supplies of financial services that

qualified as international services

For more information regarding,

GST registration and filing

contact

Enrich Consulting