- The Singaporean Inland Revenue Authority has issued new guidance on the implementation of its GST rate increase to 9% from 1 January 2024.
- The guidance focuses on supplies made between 31 December 2023 and 1 January 2024.
- If the invoice is issued or payment is received before 1 January 2024, the 8% GST rate should be applied.
- This increase follows the previous GST rate rise from 7% to 8% implemented on 1 January 2023.
- For more information on GST registration in Singapore, click here.
Source: fiscalsolutions.co.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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