GST Services

GST Services Singapore

We are Accredited Tax Practitioners (GST) registered with Singapore Institute of Accredited Tax Professional (SIATP). Our GST services Singapore include:

  • Register of GST
  • Compilation of GST return report
  • Filing of GST return
  • Reconciliation between GST and accounting records
  • Major Export Scheme application (MES)
  • Assisted Self-help Kit (ASK) review
  • GST review
  • GST investigation audit
  • GST deregister

Why choose AG GST Services Singapore?

One-stop Solution. Having all services done at AG, enables reducing process, time and cost.

Quality. Our accounting teams are led by qualified accountants to ensure our service quality.

Convenience. Clients can decide to have their accounts be maintained at their office or our office. This helps to increase clients’ office space capacity.

Cost Effectiveness. It is costly to hire a qualified accountants for a SME, not to mention the cost for setting up an accounting department. Outsourcing accounting function to an accounting firm in Singapore like AG helps to reduce fixed cost which give more flexibility to a company to control its operation cost.

Guide to GST Return

Some basic knowledge that you should know during GST filing:

(1) Input tax of private expenses, S-plated car related expenses is not claimable.

(2) Supplies can be grouped into 7% taxable supplies, 0% taxable supplies, exempted supplies and out-of-scope.

(3) Goods & services supplied in Singapore but consumed out of Singapore, are treated as 0% taxable supplies.

(4) For certain industries, special GST schemes are available to ease their business operation and cashflow. For example, Major Export Scheme for major exporter, GST Margin Scheme/Discounted  Sale Price Scheme for motor trade.

(5) Input tax incurred before GST registration is claimable if claiming conditions are met.

(6) For voluntary GST registration, GST-registered status must remain for 2 years.

Singapore GST Regime

Goods and Services Tax (GST) is a consumption tax levied on goods or services consumed in Singapore. In other countries, GST is known as the Value-Added Tax (VAT).

GST prevailing rate in Singapore is 7%.

GST Registration

GST registration can be grouped into compulsory registration and voluntary registration.

Compulsory. A business must register for GST when:

  • Your taxable turnover for the past 12 months is more than $1 million; or
  • You can reasonably expect your taxable turnover in the next 12 months to be more than S$1 million.

Voluntary. Even without S$ 1 million, a business can still register for GST subject to approval by IRAS. 

GST Registered Business

GST Registered Business must charge GST on taxable supplies and can claim input tax if claiming conditions are met. Input tax of private expenses is not claimable.

GST Submission | Filing

GST-registered business must submit GST to IRAS one month after the end of each prescribed accounting period. This is usually done on a quarterly basis.

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