Guides

TAX RELATED GUIDE

Tax Resident Individuals

 

Companies filing Form

Goods and Services Tax

  • GST rate change from 8% to 9% on 1 Jan 2024
    For any standard-rated supplies of goods or services that you make on or after 1 Jan 2024, you must charge GST at 9%. For instance, if you issue an invoice and receive payments for your supply on or after 1 Jan 2024, you must account for GST at 9%.If you are a GST-registered business that is subject to reverse charge (“RC business”), you must account for GST at 9% on the services you procure from overseas suppliers (“imported services”) on or after 1 Jan 2024.However, the special transitional rules for supplies that spanned the first change of rate from 7% to 8% will similarly apply to supplies that span the second change of rate from 8% to 9%.You may refer to the e-Tax Guide 2024 GST Rate Change: A Guide for GST-registered Businesses for more information on rate change.
  • Do I need to register for GST?
    For periods on or after 1 Jan 2019, taxable turnover will be computed on a calendar year basis for the purpose of determining registration liability. You have to monitor at the end of every calendar year (i.e. 31 Dec) and register for GST if your annual taxable turnover exceeds S$1 million. You are encouraged to use the GST Registration calculator (from 2019) to assist you in determining your GST registration liability.

GST Registration Calculator (from 2019)
https://mytax.iras.gov.sg/ESVWeb/default.aspx?target=MGSTRegOnbWelcomePage

WORK PASS RELATED

Work passes and permits
All foreigners who intend to work in Singapore must have a valid pass (commonly known as a work visa) before they start work. If you are engaging foreigners to work in Singapore, you must ensure that they hold a valid pass.
http://www.mom.gov.sg/passes-and-permits

Employment/ S Pass Self-Assessment Tool
Use the Self Assessment Tool (SAT) to check the Employment Pass or S Pass eligibility of your candidate before you apply or appeal.
http://www.mom.gov.sg/eservices/services/employment-s-pass-self-assessment-tool

BUDGET 2024