GST Service

Goods and Service Tax (GST), similar to Value Added Tax (VAT) in many countries, is consumption tax on most domestic goods and services. It is currently at 7%.

GST is exempted for sales and leases of residential properties and most financial services. Export of goods and international services are not subjected to GST. GST is collected by suppliers of domestic goods and services who are registered with the Comptroller of GST. For importation of goods, GST is collected by Singapore Customs at the point of importation into Singapore.

A supplier of goods and/or services, whose annual revenue exceeds or likely to exceed S$1 million, is required to register with the Comptroller of GST. A supplier, whose revenue does not exceed S$1 million, can voluntarily register with the Comptroller if it is beneficial to the business. The approval of such registration is at the discretion of the Comptroller. Once voluntarily registered, the supplier must comply with the regulatory requirements and stay registered for a minimum of 2 years.

How it works

Rikvin offers a GST Service that helps ease the process of filing and staying in compliance. Our accounts consultants can help you with the following:

I. GST Registration

We will register on your behalf with Inland Revenue Authority of Singapore (IRAS) and follow up with all queries regarding the registration.

II. GST Filing

We offer an assessment that determines the impact of GST registration on your company and customers. Based on the assessment, we will advise you on the optimum GST filing cycle for your company. Rikvin offers monthly, quarterly and half yearly GST filing.

Our service also includes providing advice on compliance matters as well as any incentives provided by the government for voluntary registration.

Related Topics

Singapore Goods and Services Tax (GST)
Singapore Taxation
Compliance Matters with ACRA & IRAS