Singapore GST (Goods and Services Tax) Guide

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Singapore GST is a tax charged on the supply of goods and services made in Singapore and on the importation of goods into Singapore. The current rate for GST is 9%.

What Goods and Services Are Subject to GST?

All goods and services are taxable and known as taxable supplies. However, some items are specifically exempt from GST by law. Exempted items include financial services and the sale or lease of residential properties.

When is it Compulsory to Register?

Your business must be registered to collect GST if your annual turnover exceeds or is likely to exceed S$1 million from the sale of taxable goods and services. This requirement may be waived if most of your goods or services are exported or supplied internationally (“zero-rated supplies”).

Can I Choose to Register?

You may also apply to the Comptroller of GST to collect GST voluntarily. Approval for voluntary registration is at the discretion of the Comptroller. Once approval is given, you must remain registered for at least two years.

Why Should I Register?

• Most businesses register for GST to claim back the GST incurred on their business purchases.
• When GST paid exceeds GST collected, the difference can be claimed from IRAS as a GST refund.
• When GST rate increase, it may make business sense to voluntarily register to collect GST in order to claim back GST incurred on business purchases.

Who Can Register?

• Sole proprietorships
• Partnerships
• Limited Liability partnerships
• Companies
• Clubs, associations, management corporations or organizations
• Non-profit organizations
• Statutory boards
• Government bodies