Goods & Services Tax (GST)
GST is a consumption tax levied on the import of goods (collected by Singapore Customs) as well as nearly all supplies of goods and services in Singapore. The only exemptions are for the sale and lease of residential properties, the importation and local supply of investment precious metals and the provision of most financial services. Export of goods and international services are zero-rated. The current GST rate is 7%. In some countries, GST is known as the Value Added Tax (VAT).
Since GST is a broad-based consumption tax, its complexities will vary between different types of businesses. Our GST service teams will ensure that our client’s business is updated with the latest GST compliance requirements thus mitigating the risk of non-compliance and resulting in overall tax savings by avoiding unnecessary penalties and composition costs.
Do contact us so we could advise you on the aspects in which we could be of service to you.
This page was last updated on 24th August, 2015.