Singapore: Transitional issues arising from GST rate increase

Singapore’s budget for 2022 included an increase in the goods and services tax (GST) rate

Singapore’s budget for 2022 included an increase in the goods and services tax (GST) rate

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

The KPMG member firm in Singapore prepared a June 2022 report [PDF 360 KB] discussing transitional issues arising from the impending GST rate increase. 

 

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