Short, Simple and Interesting FAQs
Goods and Services Tax (GST) is levied on all goods imported into Singapore. It is calculated based on: Customs value of the goods, plus all duties, or Value of the last selling price plus all duties, if there has been more than one sale (when the last buyer is the party declaring the payment permit) … Read more
GST is only charged by GST-registered businesses. A business must register for GST if its annual turnover exceeds S$1 million. For small businesses that do need meet this threshold, GST registration is optional. Unregistered businesses neither have to collect GST nor remit it to the government; GST is also levied on the import of goods … Read more
Goods and Services Tax (GST) This guide provides an overview of the key concepts of Singapore’s Goods & Services Tax (GST) system as it relates to Singapore companies – definition of GST, registration requirements, advantages and disadvantages of GST registration, filing GST returns, and schemes to aid businesses.The Goods and Services Tax (GST) was implemented … Read more
Goods and Service Tax (GST) is paid by the consumers for the products or services. But the GST will be remitted to the government by the businesses who are providing you with those products and services. This GST will be included in the final price that is to be paid by the consumer and then is passed … Read more