12Dec
2023
Posted: 12 Dec 2023

Singapore: Increase in Goods and Services Tax (GST) from 8% to 9%

Tag: Announcements
Singapore: Increase in Goods and Services Tax (GST) from 8% to 9%

It was announced in Singapore’s Budget in February 2022, that there would be a two-stage GST rate increase. The first stage was implemented in January 2023 from 7% to 8%, The second stage, a change from 8% to 9% will be implemented on 1 January 2024. GST Rate Change for Consumers (iras.gov.sg) Scenario (applicable for courses starting 01 January 2024 onwards) Action to take Registration and tax invoice raised before 31 December 2023 and payment made on/before 31 December 2023 Invoice will charge 8% GST Registration before 31 December 2023, but tax invoice raised and payment will be arranged on/after 1 January 2024 Invoice will charge ...