You can only start charging Goods and Services Tax (GST) after you have submitted your Form GST F1 (Application for Goods and Services Tax
Frequently Asked Questions : Taxation & Accounting
Is personal overseas income taxable?
Under the normal scenario, personal overseas income received in Singapore is not taxable. This includes overseas income paid into a Singapore bank
If I fail to register and did not collect any Goods & Services Tax (GST) from my customers, will my GST registration still be backdated?
Yes. You will be required to account for and pay the Goods & Services Tax (GST) on all your taxable supplies made from the date that you should be
Is there any limit or quota on the number of Employment Pass (EP) applications a Company can make?
The Employment Pass (EP) does not fall under any quota system nor is there a monthly levy charge for EP. The Ministry of Manpower (MOM) will review
If my company does not qualify for full tax exemption, is there any other tax exemption we can get?
Companies that do not meet the qualifying conditions for SUTE would still be eligible for partial tax exemption. Partial tax exemption is given to
Is filing a tax return necessary if my company did not gain any profits for the year?
Yes. Singapore companies are required to file a tax return annually.
If I should pass on, can I make a Nomination for someone to be a beneficiary of my Central Provident Fund (CPF) savings?
Your Central Provident Fund (CPF) nomination allows you to specify who to receive your CPF savings, and how much each nominee should receive, when you
Is there a maximum cap on Central Provident Fund (CPF)?
Maximum amount of Central Provident Fund (CPF) payable is based on a monthly salary ceiling of $5,000 for OW. Maximum amount of AW on which CPF is
Does Singapore have any value added tax or Goods & Services Tax (GST)?
The Goods & Services Tax (GST) rate in Singapore is 9% (w.e.f. 1st January 2024).
I am a visiting professional. Will I be exempt from tax if I render my services for not more than 60 days in the calendar year in Singapore?
The tax exemption for short-term employment of 60 days or less does not apply to visiting non-resident professionals who exercise their profession in
How are fringe benefits taxed?
Employer-provided fringe benefits are taxed in the employee's hands. As a number of benefits are taxed on a concessionary basis in Singapore, it is
How to declare the personal income earned overseas?
Overseas taxable income is reported as “Employment Income” or “Other Income” when you file your personal annual tax returns. If it is not taxable, you
