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 Benefits of GST: 1) Most large, established businesses are GST registered. As
a result, getting your business GST registered is often a signal 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
Please contact our representative if your companies are interested to apply for GST registered company. |