VATLive > Blog > GST > Singapore to raise GST to 8% April 2018 - Avalara

Singapore to raise GST to 8% April 2018

  • GST
  • 12 February 2018 | Richard Asquith

Singapore to raise GST to 8% April 2018

In the 2018/19 annual budget, due 19 February 2018, Singapore may increase its Goods and Services Tax rate from 7% to 8%.

In a recent pole of economists, nine out of ten expected a rise in the GST consumption tax rate due to an ageing population and rising social spending. A similar crisis lead Japan to hike its Consumption Tax rate from 5% to 8% in 2016, with a further rise to 10% imminent.

In addition, taxes on B2C sales of goods by foreign marketplaces and online platforms may also be made liable to GST for the first time.

Latest Singaporean news
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 reforms...
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 GST...
Singapore GST on foreign e-services Jan 2020
June 13, 2018

Singapore has updated its plans to levy its 7% Goods & Services Tax on B2B digital services provided by non-residents to consumers from 1 January...

VP Global Indirect Tax
Richard Asquith
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.