singapore gst history

Who pays GST in Singapore?

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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

Is VAT same as GST?

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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 on 1st April 1994 in … Read more