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Your Guide to Goods & Serices Tax (GST)
Goods & services tax (GST) is tax imposed on goods and services sold and consumed in Singapore.
Our GST currently stands at 9%. (As of Feburary 2024)
What Are The Different Types of GST?
Input GST
Inout GST refers to tax that has already been paid by the trade/vendor. Input GST is claimable from the government.
Output GST
Output GST refers to tax that GST-registered businesses have to pay to the government for the goods and services sold.
do you know,
If your company have to be GST registered?
If you aren’t sure, we are here to share more with you!
Whether you need to register for GST depends on various factors. There are 2 different types of GST registration:
Compulsory GST Registration
You are required to register for GST if:
1. your company’s projected revenue for the next 12 months exceeds SGD$1 Million.
OR
2. your company is NOT GST registered but revenue in the past 12 months has exceeded SGD$1 Million.
- Must register within 1 month of exceeding/projection
Voluntary GST Registration
You may voluntarily register for GST at anytime.
When do you file/claim GST?
As mentioned above, there are 2 types of GST – Input GST and Output GST.
Input GST
Submitting GST claims from the government is done on an adhoc basis.
Output GST
Filing for GST to be paid for the government is done on a quarterly basis.
Important Rules To Note About GST
- GST is only chargeable for Goods and Services consumed within Singapore.
- If your company is not GST registered, GST charges cannot be imposed for your Goods and Services.
For all the ways you work, we’re here
Feel free to reach out to us, we are happy to help!
111 North Bridge Road, Peninsula Plaza
#21-01
Singapore 179098
Operating Hour: Mon – Fri
- 9.00 AM – 5.30 PM (Closed for lunch from 11.30 AM -12.30PM)
Data Protection Officer
Name: Chen Huijun
Email: helpdesk@lionsworld.com.sg
Contact Number: 6336 8866