Singapore GST compliance and rates

Singapore GST compliance

There are detailed rules controlling the recording and processing of Singaporean transactions. These include guidelines on:

Singaporean invoice requirements;

  • Foreign currency reporting and translation;
  • Credit notes and corrections; and
  • What accounting records must be maintained.

Singapore GST returns

Periodic GST returns must be submitted by all companies with a Singapore GST number, detailing all taxable supplies (sales) and inputs (costs). Generally, returns are submitted monthly in Singapore.

Payments of any associated GST liability must be paid by the return deadline. In the case of a tax credit (where the GST incurred by the company exceeds the GST charged on its sales in the reporting period), approved credits will be paid over to the company within three weeks of the return deadline.

GST rates in Singapore

The standard GST rate in Singapore is 7%.

Singapore GST rates

Rate Type Which goods or services
7% Standard Goods and Services Tax (GST) (since July 2007)
0% Zero Zero rating includes: international services; exports; supply and lease of certain aircraft; supply of certain tools

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