Singapore: New overseas vendor GST registration regime, impending GST rate increases

A discussion on impending GST-related changes

A discussion on impending GST-related changes

Overseas vendors will be required to register for good and services tax (GST) if they sell low-value goods of no more than S$400, or provide remote services, to Singapore consumers (including non-GST-registered businesses) effective 1 January 2023. Read TaxNewsFlash

In addition, Singapore’s budget for 2022 included an increase in the GST rate to 8% (from 7%) effective 1 January 2023, and then to 9% effective 1 January 2024. Read TaxNewsFlash

Finally, arranging of insurance and international transport and overseas accommodation for Singapore consumers will no longer be zero-rated for GST purposes effective 1 January 2023.

The KPMG member firm in Singapore prepared a November 2022 report [PDF 275 KB] discussing these impending GST-related changes. 


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