【新加坡公司注册小知识】如何在新加坡注册商标？
Trade Mark Requirement
2018-02-05
XBRL Filing
2018-02-21
【新加坡公司注册小知识】如何在新加坡注册商标？
Trade Mark Requirement
2018-02-05
XBRL Filing
2018-02-21

GST Application Process

Scope of the GST

As a basic principle, sales of goods or services made by a business in the course or furtherance of its business are subject to GST at the standard rate of 7% unless the sale qualifies for zero-rating or is exempt from tax. The main tax exemptions are for financial services and residential sales or leases. The zero-rating applies to the international supply of services and the export of goods.

【新加坡公司注册小知识】不懂新加坡消费税（GST）注册申请程序？看这里！

When is GST paid?

GST is payable when you purchase goods and services, and import goods into Singapore from a company that is GST registered.

Who can collect GST?

Companies that are registered with the Commissioner of Excise can collect GST.

Why should you register?

Most companies are registered to collect GST to reclaim the GST paid on the purchase of goods. In the event that the GST paid exceeds the GST collected, the company can claim the difference as a GST refund from the Inland Revenue Authority of Singapore (IRAS). Where the GST collected exceeds the GST paid, the difference will need to be paid to the Inland Revenue Authority of Singapore (IRAS).

【新加坡公司注册小知识】不懂新加坡消费税（GST）注册申请程序？看这里！

Who can register GST?

  • Sole proprietor
  • Partnership business
  • Limited Liability Partnership
  • Company
  • Clubs, associations, management companies or institutions
  • Non-profit institutions
  • Statutory bodies
  • Government agencies

Many SMEs will apply to become a GST-registered business in order to be able to claim higher GST rebates.

【新加坡公司注册小知识】不懂新加坡消费税（GST）注册申请程序？看这里！

Step One: Determine the Type of GST Registration

You must determine if you are applying for compulsory or voluntary GST registration.

Please refer to Do I need to register for more details.

Step Two: Complete e-Learning Course (Only for Voluntary Registration)

For voluntary registration, the company director/ sole-proprietor/ partner/ trustee/ preparer of GST returns must complete two e-Learning courses – ” Registering for GST” and ” Overview of GST” – and pass the quiz. You are not required to do so if:

  • The company director/ sole-proprietor/ partner/ trustee of the business has the experience of managing other existing GST-registered businesses; or
  • The person who prepares your GST returns is an Accredited Tax Advisers (ATA) or Accredited Tax Practitioners (ATP); or
  • The business is applying to be registered under the Overseas Vendor Simplified Pay-only Registration Regime.

Step Three: Submit Your Application for GST Registration

All applications for GST registration are to be submitted online via myTax Portal.

Things to note:
  • You must first be authorised in CorpPass by the business to be able to access the GST registration e-Service on myTax Portal. The authorisation can be for access to any of IRAS’ e-Services (e.g. e-Filing of Corporate Tax / e-Submission of employment income).
  • You will be required to attach supporting documents(910KB) at the end of the application process. Please prepare the required documents in softcopy before you start the application process.
  • Businesses registering for GST on a voluntary basis are required to be on the GIRO plan for GST payment and refund. Please mail the completed original copy of the GIRO application form to 55 Newton Road Singapore 307987 after submitting your application online.

Can I cancel my registration on my own?

Registration for GST can be cancelled for a company’s business if the following conditions are met:

Within the next 12 months, the annual turnover of the taxable supply is less than S$1 million, or the taxable supply is no longer produced.
The registration cannot be cancelled within the first two years of GST registration unless the production of taxable supplies has ceased or the business has ceased.

Is there a GST plan to assist companies?

  • The Singapore government has established several GST-related subsidy schemes that can assist businesses with cash flow.
  • Major Exporters Scheme (MES) – Major exporters can improve their cash flow by deferring the payment of GST on major re-exports.
  • Warehouse Licence Scheme – a company can store taxable goods and pay GST on the goods when they are sold in Singapore.
  • Bonded Warehousing Scheme – Companies can convert their own warehouses into bonded warehouses for re-exports to reduce deficits and simplify the GST process.

 

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