Singapore Budget 2021 – Goods and Services Tax (GST)
NAVIGATION GST Rate Imposition of GST on Imported Low-Value Goods Change of Basis for Determining Zero-Rating Supply of Media Sales 1. GST RATE Currently, the GST rate remained at 7%. GST rate is planned to increase from 7% to 9% between year 2022 and 2025, and it will take place “sooner rather than later” depending…
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Singapore Budget 2020 – Goods and Services Tax (GST)
NAVIGATION GST Rate 1.GST RATE As announced in Budget 2018, the GST rate is planned to go up from 7% to 9% between year 2021 and 2025. This is necessary as the Minister foresee support in higher healthcare and other needs in the near future. In Budget 2020, the Finance Minister had unveiled that…
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Singapore Budget 2019 – Goods and Service Tax (GST)
NAVIGATION GST Rate Tightening Of GST Import Relief For Travellers GST Remission For S-REITs And Singapore-Listed Registered Business Trusts (RBTs) Recovery Of GST For Qualifying Funds 1 – GST RATE The current GST rate is 7%. As announced by the Minister in budget 2018, the GST rate will rise from 7% to 9% sometime between…
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GST – Transfer of Business as Going Concern
In accordance with the GST Act, any supply of goods or services made by a taxable person in the course or furtherance of his business is chargeable to GST. Where a taxable person transfers or disposes of his business assets, whether or not for a consideration, is making a supply and hence, he has to…
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