- The Inland Revenue Authority of Singapore has released updated guidelines for the upcoming GST increase to 9% in 2024.
- The guidelines clarify that if invoices are issued or payments are received before January 1, 2024, the current 8% GST rate should be applied.
- This adjustment follows the earlier GST rate hike from 7% to 8% on January 1, 2023.
Source: globalvatcompliance.com
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.
