What is needed to register for Goods and Services Tax?
GST is a self-assessed tax. This means that businesses are required to continually assess the need to register for GST. Registering for GST is compulsory when the turnover of your business is more than S$1 million for the past 12 months or is expected to be more than...What should I do now if my company turnover is about to reach S$1 million?
You need to assess if your turnover in any past 12 months or the next 12 months is more than S$1 million. If it is, you need to apply for GST Registration immediately. If it is not, no action is required from you from this point. However, you need to continue to...What is Taxable Turnover?
“Taxable Turnover” is the total value of all taxable supplies made in Singapore (excluding GST) in the course of furtherance of business. This includes the value of all standard-rated (GST at prevailing rates) and zero-rated (GST at 0%) supplies but it...Rules for GST Registration
“I am a director of several companies, partner of multiple partnerships and owner of sole-proprietorship businesses. What is the registration rule for each type of business engagement to determine my liability to register for GST?” Incorporated companies...