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Goods and Services Tax (“GST”) refers to the tax levied onto the sales of almost every goods and services in Singapore. In simple words, business in Singapore with annual revenue turnover exceeding $1 million is required to register and submit GST returns every year. Business does not exceeds the threshold but expecting to reach the amount can also consider to register for GST on a voluntary basis. While being GST registered (either compulsory or voluntary) allows the company to enjoy claiming 7% of input tax from IRAS for business expenses or purchases incurred, it is required to collect and submit the output tax from its clients for the sales of goods and/or services.

However, different business entities (e.g. sole proprietors, partnerships, company, etc) subject to different guidelines when involving the registration of GST. Not sure if the business you involved requires GST registration? Contact us for further assistance.

It is worth notice that failure to register or late registration of GST is an offense in Singapore. Business found guilty on the mentioned are subject to a fine of up to $10,000 and a penalty of 10% of the tax due. To avoid such penalty, it is advised that company kept the registration of GST ahead of schedule with a professional accounting partner.

Consider your company ready to register for GST by fulfilling the basic requirements below:
•    The business has to be a ACRA-registered business
•    The company/business already has a Business Bank Account
•    Business activities can be clearly defined along with the expected revenue for the next 12 months
•    Some documents may be required, depending whether the business has started making sales
•    Companies with compulsory registration requires an annual revenue exceeded $1 million.

GST Registration Service Provided by JT Accounting
•    Compilation and review of documents collected for registration.
•    Filling up of registration form and submit to owner/management for Signing (consent)
•    Submission of form and related documents
•    Follow-up on the approval of GST Registration



Once the application for GST is approved, companies are to collect and file a GST F5 tax return to IRAS monthly or quarterly. Companies must make payment to IRAS within that month after filing the F5 return. Both input and output tax are to be reported upon filing.


GST Filing

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Why choose JT Accounting?

JT Accounting deeply understands the gist and guidelines regarding GST in Singapore after working with countless of clients over the years. We assisted several company to avoid being penalty by registering their GST account ahead before deadline. Our clients found difficulties understanding the requirements and entrust us to support them in this aspects.


We continue to work with these companies up to these days thanks to the attentiveness and constant communication by our experts. In order to maintain the professionalism our team carries, we often send them to seminars and workshops to ensure we are updated with the latest regulations and technology.

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