Goods and Services Tax (GST)

What is GST?

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT. The current GST rate is 7 percent in Singapore.

Who needs to register for GST?

All Singapore companies must register for GST if their annual taxable revenue is more than S$1 million, or if their current taxable income and annual taxable revenue is expected to be more than S$1 million. The business must register for GST within thirty days from the time it is deemed liable.

You may also choose to voluntarily register for GST. Approval for voluntary registration is at the discretion of the IRAS Comptroller. Once approval is given, you must remain registered for at least two years.

You may refer to Should I registered GST for my Company for more information.

What to do after being GST registered?

You must charge GST on your supplies at the prevailing rate. This is known as output tax. Output tax must be paid to IRAS.

The GST that you incur on business purchases and expenses (including import of goods) is known as input tax. If your business satisfies the conditions for claiming input tax, you can claim the input tax on your business purchases and expenses.

You must submit your GST return to IRAS one month after the end of each prescribed accounting period. This is usually done on a quarterly basis. The difference between output tax and input tax is the net GST payable to IRAS or refunded by IRAS.

You may refer to How GST works for more information.

How we will assist you

1. GST registration

2. Preparation and submission of GST returns

Our Fees