Guides

TAX RELATED GUIDE

Tax Resident Individuals

 

Companies filing Form

Goods and Services Tax

  • Do you know that GST rate will be changed from 7% to 8% in Jan 2023?
    How can you start preparation early for a smooth transition to the new GST rate. For example, you may need to modify your point-of-sale, invoicing, accounting and other systems, as well as your price displays to reflect the new rate.If you need any assistance with the changes, please call us for a no obligation discussion.You may also refer the details of the changes from IRAS website.

    Preparing for GST Rate Change (iras.gov.sg)

    Checklist for GST rate change wef 1.1.2023 – preparation.pdf

  • Do I need to register for GST?
    For periods on or after 1 Jan 2019, taxable turnover will be computed on a calendar year basis for the purpose of determining registration liability. You have to monitor at the end of every calendar year (i.e. 31 Dec) and register for GST if your annual taxable turnover exceeds S$1 million. You are encouraged to use the GST Registration calculator (from 2019) to assist you in determining your GST registration liability.

GST Registration Calculator (from 2019)
https://mytax.iras.gov.sg/ESVWeb/default.aspx?target=MGSTRegOnbWelcomePage

WORK PASS RELATED

Work passes and permits
All foreigners who intend to work in Singapore must have a valid pass (commonly known as a work visa) before they start work. If you are engaging foreigners to work in Singapore, you must ensure that they hold a valid pass.
http://www.mom.gov.sg/passes-and-permits

Employment/ S Pass Self-Assessment Tool
Use the Self Assessment Tool (SAT) to check the Employment Pass or S Pass eligibility of your candidate before you apply or appeal.
http://www.mom.gov.sg/eservices/services/employment-s-pass-self-assessment-tool

BUDGET 2022