Singapore GST

GST is similar to VAT in other countries. GST is currently at 7%. 

Companies are required to be a GST registered company if the turnover is more than SGD 1 million for the past 12 months
or expected to exceed SGD 1 million turnover in the next 12 months.  However, you can also voluntarily register for GST.  

Benefits of GST:

1) Most large, established businesses are GST registered. As a result, getting your business GST registered is often a signal
to customers that your business is an established business. 

2) The cost of doing business is reduced because businesses do not suffer a tax cost due to the multi-stage credit mechanism.

E.g.  Businesses can file GST returns. That is, businesses can claim back 7% GST for all incurred business expenses that has
GST charges on it. 

 

Please contact our representative if your companies are interested to apply for GST registered company.