GST Singapore Guide
Read our guide and find out all you need to know about GST in Singapore, from registration to filing, and more.
Expanding your business to Singapore involves understanding its version of Value Added Tax (VAT), known as Goods and Services Tax (GST). This guide will provide you with essential insights into the Singapore GST framework, helping you to effectively manage this aspect of your business operations in Singapore.
What is the Singapore GST rate?
The Singapore GST system is characterized by simplicity, with a standard GST rate of 9% applied to most goods and services. There is also a 0% Singapore GST rate, which applies to specific goods and services.
Registering for GST in Singapore
The GST registration threshold in Singapore is SGD 1 million in annual taxable turnover. Businesses exceeding this threshold must register for Singapore GST. Those below may opt for voluntary registration, which allows them to reclaim any input GST they may be due.
Registration can be done electronically through the Inland Revenue Authority of Singapore (IRAS) website. Once the application has been submitted, businesses should receive their Singapore GST number within three weeks.
Fiscal representative in Singapore
A foreign company operating in Singapore must appoint a GST fiscal representative who will be jointly responsible for ensuring compliance with Singapore’s tax laws.
Singapore GST return filing and penalties
The majority of businesses are required to file a Singapore GST return every quarter. The accounting periods and due dates are as follows:
January to March - filing and payment deadline is April 30
April to June - filing and payment deadline is July 31
July to September - filing and payment deadline is October 31
October to December - filing and payment deadline is January 31
Singapore GST returns must be submitted electronically through myTax Portal.
Late submission of a GST return will result in a penalty of SGD 200 with a further SGD 200 for every month a return is not filed, up to a maximum of SGD 10,000. A 5% penalty is imposed on unpaid Singapore GST, with additional penalties for continued non-compliance possible.
Reverse charge in Singapore
The reverse charge mechanism applies to imported services and goods by GST-registered businesses and non-GST-registered entities under specific conditions. This system requires the recipient, rather than the supplier, to account for the GST on these imported services or goods.
