Singapore is increasing its Goods and Services Tax rate for the first time in 15 years announced today in the 2022 Budget. It will be in two steps:
- January 2023 rise from current 7% to 8%; and
- January 2024 rise to 9%.
Source: vatcalc.com
Latest Posts in "Singapore"
- Singapore Mandates Phased InvoiceNow Adoption for GST Businesses, Offers Funding Support Through 2031
- Comprehensive Guide to Country VAT, E-Invoicing, Registration, and Fiscal Compliance Requirements
- Singapore POS and Receipt Regulations: No Certification, Flexible Formats, Key Laws Explained
- Singapore POS and VAT Requirements: No Fiscalization, Flexible Receipts, Standard VAT Rules
- Overview of Invoice Now: Architecture, Scope, Implementation Timeline, and Business Impact
