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.
Are you trading globally? Whether you require basic VAT advice or specific VAT compliance support, Fiscal Solutions can help. Our team of multi-lingual experts are knowledgeable in all the different VAT rules in Europe and around the world.
We help you simplify today’s complexities and address tomorrow’s challenges. The values we represent, and our consistent advice, mean you can trust Fiscal Solutions to do the right thing – for you and your organisation.