Singapore issues new guidance on the increase of its GST rate to 9% from Jan 2024

29 September 2023

The Singaporean Inland Revenue Authority has issued new guidance on the implementation of its GST rise to 9% from 1 January 2024.

The guidance mainly focuses on supplies undertaken between 31 December 2023 and 1 January 2024 and confirms that if the invoice is issued or payment is received before 1 January 2024, then the 8% GST rate should be applied.

This increase follows the GST rate rise implemented on 1 January 2023, which saw an increase from 7% to 8%. For further information regarding GST registration in Singapore, please click here.

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