If you’re using the transition to the new tax rate to also increase the prices or fees of your products and services, you must communicate this transparently to your customers. Generally, purchases of goods and services from GST-registered businesses before 1 Jan 2024 will be subject to GST ...
Revision of GST rate from 8% to 9% for Credit Card Annual Fee and Transfer Fee with effect from 1 January 2024 Dear Clients, As you may be aware, Singapore’s Goods and Services Tax (GST) rate will increase from 8% to 9% from 1 January 2024. In line with that, the GST rate ...
From 1 January 2024, IKEA Singapore will absorb the 1 percent GST rate increase and maintain prices on offerings online and in-store.We remain committed to our mission of creating a better everyday life for the many people. This year, we made extra efforts to ensure efficiencies in the...
SingPost to Adjust Postage Rates to Meet 2023 and 2024 GST Increases and Exceptional Cost Increases Read More 08 Dec 2022 SingPost commemorates opening of the Children’s Museum Singapore with stamp issue Read More 15 Nov 2022 Commemorative stamps to mark 50th anniversary of Singapore-Bangladesh ...
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 forGST is 8%, and will increase to9% from January 2024. What Goods and Services Are Subject to GST?
Goods surpassing S$400 in value are subject to the GST,which will increase from 8% to 9% in 2024.An important change to grasp for Vietnamese exporters is the Overseas Vendor Registration (OVR) regime, impacting goods valued below S$400. Previously affecting B2C digital services, this now ...
I'm here to give more information about changing the GST rate. The amount of GST you collect may increase or decrease. That said, you'll have to change it manually. Let me guide you through the steps: Go to Taxes. Select the Edit GST dropdown, then Edit rates. In the tax rate ...
1. Goods and Services Tax (GST) In February 2022, the Singapore government announced that the GST rate will be raised from 7% to 9% by 2024. This will occur in two stages, with a one-percentage point increase each time on 1 January 2023 and 1 January 2024. Both domestic purchases an...
Schemes which were due to lapse on 31 December 2024, will be extended till 31 December 2029. With this extension, the withholding tax exemption on interest and qualifying payments and the Goods and Services Tax (“GST”) remission scheme for Qualifying Funds will also be extended to 31 Decembe...
The business and tax landscapes have changed dramatically, and the pace and complexity of change continues to increase. We can help you navigate this shifting landscape.