Singapore Updates Guidance on Preparing for GST Rate Change
On 4 September 2023, the Inland Revenue Authority of Singapore published updated guidance on Preparing for GST Rate Change. Singapore increased its GST rate from 7% to 8% from 1 January 2023 and is further increasing the rate to 9% from 1 January 2024. Among other things, the guidance clarifies the GST rate to apply.
Generally, GST should be charged at the prevailing rate at the time of supp…
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