This guide provides details of the GST treatment applicable to the biomedical
industry.
The biomedical industry is a key growth engine of Singapore’s economy and
one of the fastest growing sectors. To facilitate growth, IRAS collaborated with
the GST Services of the Big 4 CPA Firms to co-design GST solutions to
address various issues faced by the industry.
Specifically, to enhance the international competitiveness of our local industry,
business-friendly GST measures have been introduced to relieve the
irrecoverable GST costs incurred by businesses as well as to facilitate GST
compliance along the supply chain. The measures are explained in
paragraphs 3 and 4 below.
This guide also clarifies the GST treatment for other common scenarios and
issues in the biomedical industry
Source: gov.sg
