VATupdate

Singapore Provides Guidance on Preparing for GST Rate Change (7 to 8% in Jan 2023)

The Inland Revenue Authority of Singapore (IRAS) has published guidance on Preparing for GST Rate Change. As announced in the 2022 Budget, the GST rate will be increased from 7% to 8% from 1 January 2023 and to 9% from 1 January 2024. Although the legislation for the change is pending, the IRAS encourages taxpayers to prepare.

Source Orbitax

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