GST Service Rendered By Rikvin
The GST rate in Singapore is set at 7%.
Except those which are clearly stipulated by the laws, all goods
and services are taxable by GST.
Among others that are exempted are financial services and the lease or
sale of...
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GST Service Rendered By Rikvin
The GST rate in Singapore is set at 7%.
Except those which are clearly stipulated by the laws, all goods
and services are taxable by GST.
Among others that are exempted are financial services and the lease or
sale of residential properties.
Rikvin assists companies—both local and foreign—in registering for GST with IRAS as part of its
specializations.
“Companies that have annual turnover of more than S$1 million from sale of any taxable goods and
services should register for GST collection eligibility so they can collect GST from their clients,” explains one
business consultants of Rikvin, “the same thing can be said to companies with valid bases to suppose that
the turnover will reach S$1 million in the next 12 months.
”
Besides this compulsory, companies may also register voluntarily.
“There is no limit to the structure of business that can register for GST.
Even government bodies, statutory
boards, non-profit organizations, clubs and associations
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