GST (Goods and Services Tax)

Finance

The Goods and Services Tax is a broad-based consumption tax charged on most goods and services in Singapore, as well as on imports. It is added to the price you pay at shops, restaurants and for many services. Businesses whose taxable turnover crosses the registration threshold must register, collect GST from customers, and pass it to IRAS, while claiming back GST they paid on business expenses. Some items, such as the sale of residential property and certain financial services, are exempt or zero-rated. The prevailing GST rate and thresholds are subject to the latest rules.

GST (Goods and Services Tax)

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