- GST rate increase from 7% to 8% which will take effect from January 1, 2023, until December 31, 2023.
- GST rate increase from 8% to 9% which will take effect January 1, 2024.
- The implementation of a zero-VAT rate for travel arranging services effective January 1, 2023.
- Change of GST transition rules for all imported goods and non-digital service
- The overseas vendor registration and reverse billing regulations for TAX security will be enhanced from January 1, 2023.
- A non-compliant fine of (EUR 500,000) and a 10-year maximum imprisonment term will be imposed effective January 1, 2023.
Source: GVC
Latest Posts in "Singapore"
- Singapore Updates GST Compliance and ACAP Renewal Guide with New Requirements and Benefits
- GST to Apply on Card Replacement Fees from 1 January 2026, Fees Increased
- Singapore Publishes Guide to Completing GST Registration Form
- Singapore GST Rules for Remote Services: Key Guidelines for Overseas and Local Providers
- Singapore S$700 GST Cash Voucher: Eligibility, Purpose, and Government Support Explained
