A Taxable Supply is a supply of goods and services made in Singapore other than an exempt supply. Goods & Services Tax (GST) is chargeable on a
Frequently Asked Questions : Taxation & Accounting
What is the penalty for the late registration of Goods & Services Tax (GST)?
If you are late in registering for Goods & Services Tax (GST), you will be guilty of an offence and be liable on conviction to a fine up to
What is the registration rule for each type of business engagement to determine my liability to register for Goods & Services Tax (GST)?
Incorporated companies are separate legal entities. The registration liability of an incorporated company will be determined on its own. It is
What is Taxable Turnover?
“Taxable Turnover” is the total value of all taxable supplies made in Singapore (excluding Goods & Services Tax (GST)) in the course of
What is the annual set date for filing individual / personal income tax in Singapore?
The due date or deadline for filing individual taxes or personal income tax is 15 April each year. Late filing or failing to file at all could incur
What is Central Provident Fund (CPF) computed on?
For computing Central Provident Fund (CPF), salary is classified into Ordinary Wages (OW) (wages due or granted wholly and exclusively in connection
What is the individual taxation scheme for non-residents?
Non-residents are taxed at a flat rate of 15%.
What is Central Provident Fund (CPF) for?
Your Central Provident Fund (CPF) is for your retirement. You can withdraw your CPF savings when you turn 55, after setting aside your CPF Minimum
What is an Out-of-Scope Supply?
An Out-of-Scope Supply is a supply which is not made in Singapore (for example, sale of goods from China to India where the goods do not enter
What are the requirements to register for Goods & Services Tax (GST)?
Goods & Services Tax (GST) is a self-assessed tax. This means that businesses are required to continually assess the need to register for GST.
What is an Exempt Supply?
There are two broad categories of exempt supply. They include the sale and lease of residential properties and financial services specified in
What are the personal taxes that I will have to pay based on my declared salary?
As a Singapore Permanent Resident (SPR), you will be considered a tax resident. You may refer to the Rikvin resource page for Singapore Personal Taxes
