October 24, 2019
GST Rate Increase Singapore: Tax Facts
Late last year, the Singapore government announced plans to raise GST by 2 percentage points. In the Singapore Budget 2018, the next proposed GST increase will happen between 2021 and 2025, from the current rate of 7% to 9%. In the recent Singapore Budget 2019 delivered by Finance Minister, Mr Heng Swee Keat, a similar…
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Tax Dept
October 24, 2019
Exempt supplies under Singapore GST legislation: Tax Facts
As per the rules and guidelines set by the Inland Revenue Authority of Singapore (IRAS), GST may be charged on sales of locally-made goods and services rendered excluding exported goods, international services and exempt supplies. GST registered companies may claim back GST incurred on business expenses and quarterly GST returns must be submitted to IRAS…
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