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It is our pleasure to welcome you to the 1stop’VAT page dedicated to the Online GST Calculator Singapore. Here you will be able to calculate the GST amount by using our custom-built Singaporean GST Calculator Online and learn more about the tax in Singapore. We hope you enjoy reading this article and find it easy to use our Singaporean GST Calculator.
GST in Singapore
GST is a consumption tax charged at the moment of sale and levied on the final customer. GST, or goods and services tax regime, is very similar to the widespread VAT regime.
Companies have to register as GST collectors in Singapore once they exceed a threshold of SGD 1,000,000 in turnover per year.
There are several ways to find out the GST amount paid or the value to be included in the prices. By far, the easiest one is using an online Singaporean GST Calculator. But in some cases, it can be worth using a self-made Singaporean GST Tax Calculator that can be created by using a spreadsheet and relevant formulas.
Singapore is currently undergoing a GST-raising process. From January 2023, the Singaporean GST rate reached 8% — a one percent increase from the previous rate. It is expected that in 2024, the Singaporean GST will climb to 9%. Such incremental GST raises are happening in several countries. Such decisions by governments normally mean that the government aims to collect more money to public funds in order to support public services or other important societal areas.
It is always worth checking if goods and services are subject to GST before calculating the tax amount with a GST Calculator in Singapore. In Singapore, GST-exempt activities are selling precious metals and financial services.
Singaporean GST Calculator Online
Now when you have learned the core facts about the tax in Singapore, it’s time to use our GST Rate Calculator Singapore.
Our team constantly updates this Singaporean Online GST Calculator so that you can find relevant information any time you need it. By using our GST Calculator Singapore, you will easily figure out how much GST you should add to the prices of goods or services you’re selling. You can also use our GST Calculator Singapore to calculate how much GST you have paid when buying taxable goods or services.
If you have any more questions after reading this guide and using our GST Calculator Online Singapore, please get in touch with our team. 1stopVAT’s experts will consult you individually and provide all relevant tax-related information in no time.