- IRAS updates GST registration rules with a two-month grace period for businesses forecasting turnover above SGD 1 million from July 2025
- Businesses expecting taxable turnover to exceed SGD 1 million within 12 months must apply for GST registration within 30 days of the forecast
- Registration takes effect two months from the forecast date for forecasts made on or after 1 July 2025
- Supporting documents required include signed contracts, accepted quotations, confirmed purchase orders, invoices, or income statements
- Registration is not required if the forecast is based only on market assessments, business plans, or sales targets without confirmed income
Source: regfollower.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.
