What is GST in Singapore?
Goods and Services Tax (GST) is Singapore’s value-added tax system. The current GST rate is 9% (increased from 8% on 1 January 2024). GST-registered businesses charge GST on their sales (output tax) and can claim back GST paid on business purchases (input tax).
When Must You Register for GST?
GST registration is compulsory when your business’s taxable turnover exceeds or is expected to exceed S$1 million in 12 months. This is called mandatory registration.
You may also choose voluntary registration even if your turnover is below S$1 million — this allows you to claim input GST on purchases.
How to Register for GST
- Log in to myTax Portal at mytax.iras.gov.sg
- Navigate to GST Registration
- Complete the application form
- Submit supporting documents (business registration, financial records)
- IRAS processes within 5–10 business days
- You’ll receive a GST registration number upon approval
GST Filing Obligations
Once registered, you must:
- Charge 9% GST on all standard-rated supplies
- File quarterly GST returns (F5) within 1 month of each quarter end
- Submit GST payments to IRAS with each return
- Maintain records for at least 5 years
- Issue valid tax invoices for all GST-taxable supplies
GST-Exempt and Zero-Rated Supplies
Zero-rated (0% GST): Exports of goods, international services — you charge 0% but can still claim input GST
Exempt supplies: Financial services, residential property sales, life insurance — no GST charged and you cannot claim input GST
Penalties for Late GST Registration
Failure to register when required attracts a penalty of 10% of the GST outstanding, plus late payment interest of 5% per year. IRAS may also backdate your registration and charge all GST that should have been collected.
Should You Register for GST Voluntarily?
Voluntary registration makes sense if you have significant business expenses (allowing input tax claims) or if your customers are GST-registered businesses (who can claim back the GST you charge). It may not benefit businesses serving end consumers exclusively.
Our accounting team can help you manage GST registration and quarterly filing. Contact us today.