Language
- 简体中文
- English

FOZL Knowledge Hub

Everything you need to know about setting up and succeeding in Singapore

Singapore's advantages

Company Registration and Services

Home

GST Computation

How It Works

Goods and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. In other countries, GST is known as the Value-Added Tax or VAT.

GST exemptions apply to the provision of most financial services, the supply of digital payment tokens, the sale and lease of residential properties, and the importation and local supply of investment precious metals. Goods that are exported and international services are zero-rated.

Taxable and Non-Taxable Goods and Services

The table below lists the categories and types of taxable and non-taxable supplies.

	Taxable Supplies	Non-Taxable Supplies
Goods	Most local sales fall under this category. E.g. sale of TV set in a Singapore retail shop	Export of goods E.g. sale of laptop to overseas customer where the laptop is shipped to an overseas address	Sale and rental of unfurnished residential property Importation and local supply of investment precious metals	Sale where goods are delivered from overseas to another place overseas Private transactions See Out-of-scope supplies for more information.
Services	Most local provision of services fall under this category. E.g. provision of spa services to a customer in Singapore	Services that are classified as international services E.g. air ticket from Singapore to Thailand (international transportation service)	Financial services E.g. issue of a debt security Digital payment tokens (from 1 Jan 2020) E.g. exchange of Bitcoin for fiat currency

Taxable Supplies

Non-Taxable Supplies

Standard-Rated Supplies

(7% GST)

Zero-Rated Supplies

(0% GST)

Exempt Supplies

(GST is not applicable)

Out-of-Scope Supplies

(GST is not applicable)

Goods

Most local sales fall under this category.

E.g. sale of TV set in a Singapore retail shop

Export of goods

E.g. sale of laptop to overseas customer where the laptop is shipped to an overseas address

Sale and rental of unfurnished residential property

Importation and local supply of investment precious metals

Sale where goods are delivered from overseas to another place overseas

Private transactions

See Out-of-scope supplies for more information.

Services

Most local provision of services fall under this category. E.g. provision of spa services to a customer in Singapore

Services that are classified as international services

E.g. air ticket from Singapore to Thailand (international transportation service)

Financial services

E.g. issue of a debt security

Digital payment tokens (from 1 Jan 2020)

E.g. exchange of Bitcoin for fiat currency

GST Formula

GST Due = Output Tax – Input Tax

Singapore FOZL Group Pte. Ltd.
Accounting and Corporate Regulatory Authority of Singapore licensed corporate advisory firm.
Singapore Company Registration, Annual Return, Accounting & Tax
Trademark Registration, Corporate Advisory, Serviced Offices.
6 Raffles Quay，#14-02- #14-06， Singapore 048580

Accounting Services

Pay GST

Relevant Knowledge

【Licensing】Food Import Licence

All companies wishing to import, export, or trans-ship food products must be registered and licensed by the Singapore Food Authority in accordance with the relevant laws of Singapore.

【Licensing】Custom Registration

Companies registered in Singapore can directly engage in international trade. If a company intends to import products into Singapore, the goods must undergo customs clearance upon arrival. This requires the company to submit an application to Singapore Customs in advance and obtain the necessary registration or permits. Once the customs registration is approved, logistics companies or customs brokers can declare the goods to Singapore Customs on behalf of your company, pay Goods and Services Tax (GST), and import the goods into Singapore.

【Licensing】13R & 13X

For investments in Asia and the Pacific, Singapore is an important base for family offices, private equity, real estate, and hedge fund managers.

【Licensing】Ship Registration

The Singapore ship registration system is administered by the Maritime and Port Authority of Singapore (MPA). The following outlines the eligibility, procedures, and documentation requirements for registering a vessel in Singapore.

【Licensing】Fund Management Licence