Who Needs To Pay GST
2019-09-23
Withholding Tax Rate
2019-10-16
Who Needs To Pay GST
2019-09-23
Withholding Tax Rate
2019-10-16

GST Computation

How It Works

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

GST exemptions apply to the provision of most financial services, the supply of digital payment tokens, the sale and lease of residential properties, and the importation and local supply of investment precious metals. Goods that are exported and international services are zero-rated.

Taxable and Non-Taxable Goods and Services

The table below lists the categories and types of taxable and non-taxable supplies.

 Taxable Supplies Non-Taxable Supplies
Standard-Rated Supplies

(7% GST)

 Zero-Rated Supplies

(0% GST)

 Exempt Supplies

(GST is not applicable)

 Out-of-Scope Supplies

(GST is not applicable)
Goods Most local sales fall under this category.

E.g. sale of TV set in a Singapore retail shop

 Export of goods

E.g. sale of laptop to overseas customer where the laptop is shipped to an overseas address

 Sale and rental of unfurnished residential property

Importation and local supply of investment precious metals

 Sale where goods are delivered from overseas to another place overseas

Private transactions

See Out-of-scope supplies for more information.
Services Most local provision of services fall under this category. E.g. provision of spa services to a  customer in Singapore Services that are classified as  international services

E.g. air ticket from Singapore to Thailand (international transportation service)

 Financial services

E.g. issue of a debt security

 

Digital payment tokens (from 1 Jan 2020)

E.g. exchange of Bitcoin for fiat currency

 

GST Formula

GST Due = Output Tax – Input Tax

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