Singapore GST / VAT
Goods and Services Tax ('GST') was introduced into Singapore in 1994 at 3%. It is now 7%. All taxable supplies of goods or services are liable to GST - exceptions apply to some financial services.
Requirement to register for Singaporean GST
For foreign companies making taxable supplies in Singapore, there may be a statutory obligation to register for GST. Once registered, non-resident traders must comply with local filing rules (see below)
Typical situations requiring a Singapore GST registration include:
- Where goods are delivered within Singapore;
- If the foreign trader imports, installs or assembles goods in Singapore GST rules;
- Export of goods from Singapore;
- Supply of services where the place of supply is Singapore
Singapore GST registration threshold
There is an annual GST registration threshold of SGD 1,000,000 per annum. It is not compulsory to register if your annual sales turnover is below this amount.
Singapore fiscal representative
A foreign company may register for GST without the requirement to form a local company; however they must appoint a Singaporean GST fiscal representative. The representative and company are jointly liable for the reporting and payment of GST to the Singaporean authorities. In addition, the agent is responsible for all communications between the company and the Singaporean tax authorities.
Read about Singapore GST compliance here.
Latest Singaporean news
Nov 12, 2019
The Singaporean government has confirmed that it is looking to raise its Goods and Services Tax (GST) rate from 7% to 9% sometime between 2021 and 2025. The increase is needed to help meet the rising
October 6, 2018
The Ministry of Finance in Singapore is to update its proposals to reform its Goods and Services regime following a recent public consultation. The...
July 11, 2018
Singapore is to consider a range of changes to its Goods and Services Tax regime. These include a consultation on the following: Imposition of...