The Finance Minister on 19 February 2018, delivered a budget for 2018 that includes certain tax-related measures.
For business taxpayers, the budget includes the following measures:
The goods and services tax (GST) rate will increase from 7% to 9%, at some point between 2021 and 2025, and GST will be introduced on business-to-business and business-to-consumer imported services on or after 1 January 2020.
Read a February 2018 report that also provides a set of charts and tables showing the tax effects of the budget 2018, as prepared by the KPMG member firm in Singapore
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