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

Latest Singaporean news

Singapore GST rise to 9%

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

Singapore GST changes

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...

Singapore digital GST changes

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...