What is GST?

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods collected by the Singapore Customs, as well as nearly all supplies of goods and services in Singapore to consumers. In other countries, GST is also known as the Value-Added Tax or VAT.

Exemptions do apply to the provision of most financial services, supply of digital payment tokens, sale and purchase of residential properties and the local supply of investment precious metals.

Note that you can charge and claim GST only if you are GST registered.

Taxable supplies

Type	Standard-rated supplies (8% GST)	Zero-rated supplies (0% GST)
Goods	Most local sales fall under this category. E.g. sale of laptops in a retail shop Sale of imported low-value goods (from 1 Jan 2023) E.g. sale of basketball shoes by overseas online merchant to customer in Singapore at $300, excluding freight and insurance	Export of goods E.g. sale of laptop to an overseas customer, where laptop is shipped to an overseas address
Services	Most local provision of services fall under this category. E.g. provision of spa services Imported services E.g. Procurement of services from overseas consultancy firm	International services E.g. air tickets from Singapore to Thailand

Non-taxable supplies

Type	Exempt supplies (GST not applicable)	Zero-rated supplies (0% GST)
Goods	Sale and rental of unfurnished residential property Importation and local supply of investment precious metals	Sale where goods are delivered from overseas to another place overseas  Private transactions See Out-of-scope supplies for more information.
Services	Financial services E.g. issue of a debt security Digital payment tokens (from 1 Jan 2020) E.g. exchange of Bitcoin for fiat currency	Private transactions. See Out-of-scope supplies for more information.

Do i need to register for GST?

As a business, you must register for GST when your taxable turnover exceeds S$1 million.

If your business’ taxable turnover does not exceed S$1 million, you may still choose to voluntarily register for GST.

Documents Required:

• ACRA Business Profile
• Latest Financial Report OR Detailed Sales & Purchase Listings of 2 months if the business has been operating for less than 2 years
• Copies of 3 recent suppliers’ invoices received, including shipping documents
• Copies of 3 recent invoices issued to your customers, including shipping documents

How to voluntarily register for GST?

A) For companies who have started sales

Documents Required:

• ACRA Business Profile
• Latest Financial Report OR Detailed Sales & Purchased Listings of past 2 months if the business has been operating for less than 2 years
• Copies of 3 recent suppliers’ invoices received, including shipping documents
• Copies of 3 recent invoices issued to your customers, including shipping documents

B) For companies who have not started sales

Documents Required:

• ACRA Business Profile
• A copy of the signed contract(s), accepted tender & purchase order
• Copy of rental agreement for your business office, warehouse, shop, etc.
• Copy of Licence/ Permit/ Approval from relevant authorities to conduct business activities
• Copy of signed Option to purchase/ Sales & purchase agreement of property/properties
• Detailed Purchase Listing with 3 copies of recent suppliers’ invoices received, including shipping documents of past 2 month