What is an Exempt Supply?

There are 2 broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in paragraph 1 of the Fourth Schedule to the GST Act. GST will not be charged on the exempt supply. Generally, any GST incurred in...

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 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...