Goods and Service Tax (GST) Singapore

Businesses need to register for GST when their turnover exceeds $1mil per year. Businesses that do not exceed $1mil in turnover may register for GST voluntarily.

The GST (in other countries is named Value Added Tax (VAT)) standard rate of 7% is levied on

• the import of goods (collected by Singapore Customs)
• supplies of goods and services in Singapore

Exemptions

• sales and leases of unfurnished residential properties
• the provision of most financial services
• Sale of goods delivered from overseas to overseas outside the scope of the GST Act

For the Export of Goods and International Services GST is rated zero.

A GST registered businesses must charge GST (output tax) but can also claim input tax - GST incurred on business purchases and expenses (including import of goods). At the end of each accounting period a GST return (output tax and input tax ) must be submitted to IRAS . The difference between output tax and input tax is the net GST payable to or refundable from IRAS.

Conditions for claiming input tax

e-learing course for GST

Information for specific industries - follow the links to information from IRAS

• Advertising
• Auction 
• Charities and Non-Profit Organisations
• Construction 
• Consultancy and Professional Services 
• e-Commerce 
• Energy
• Finance 
• Gold Jewellery 
• Hotel, Food & Beverage
• Logistics and Freight Forwarding
• Manufacturing
• Marine, Shipping and Aviation
• Motor Trade
• Real Estate
• REITs and Registered Business Trusts 
• Retail
• Telecommunications
• Travel