Effective 1 January 2023 and 1 January 2024, the goods and services tax (GST) rate in Singapore will increase from 7% to 8% and from 8% to 9%, respectively. Further to the announcement of the GST rate change by the Minister for Finance in Budget 2022, the Inland Revenue Authority of Singapore (IRAS) published guidelines (“e-tax guide”), “2023 GST Rate Change: A Guide for GST-registered Businesses,” to help GST-registered businesses prepare (for prior coverage of the budget measures, see the global tax alert dated 2 March 2022).
Source BDO
Latest Posts in "Singapore"
- Singapore Updates GST Rules for Remote Services Purchased from Overseas Providers
- Singapore Mandates E-Invoicing for Select GST-Registered Businesses Starting November 2025
- Purchasing Remote Services from Overseas Service Providers
- GST InvoiceNow Requirement- mandatory implementation has begun for some businesses
- IRAS GST Advance Ruling System Guide (12th Edition): Key Updates and Clarifications, Nov 2025
