Goods and Services Tax (GST)

GST is Singapore's version of Value Added Tax (VAT). It is a broad-based consumption tax levied on the import of goods and almost all supplies of goods and services in Singapore.

The Current Rate

As of 1 January 2024, the GST rate in Singapore is 9%. (It was previously raised from 7% to 8% in 2023).

When MUST you register? (Compulsory Registration)

You are legally required to register for GST if you meet either of these conditions:

1. Retrospective Basis: Your taxable turnover at the end of any calendar year (ending 31 Dec) exceeds S$1 million.
2. Prospective Basis: You can reasonably expect your taxable turnover to exceed S$1 million in the next 12 months.

Failing to register when required carries heavy penalties (fines of up to S$10,000 plus a penalty equal to 10% of the tax due).

Voluntary Registration

Even if your turnover is below S$1 million, you can choose to register voluntarily.

Why do this? If your business primarily exports goods or provides international services (which are zero-rated, meaning 0% GST), registering allows you to claim back the GST you paid on your local business inputs (e.g., office rent, local suppliers).

The Catch: Once registered voluntarily, you must remain registered for at least two years and maintain strict quarterly filing records.

Use our GST Calculator to quickly add or extract the 9% tax from invoices.