Question 1

When must a Singapore business register for GST?

Accepted Answer

A Singapore business must register for GST when: (1) Retrospective basis — your taxable turnover for the past 12 months exceeds S$1 million; OR (2) Prospective basis — you have reasonable grounds to expect your taxable turnover in the next 12 months to exceed S$1 million. You must apply to IRAS within 30 days of becoming liable. Late registration attracts penalties of up to 5% of the tax payable plus potential prosecution.

Question 2

What is the current GST rate in Singapore?

Accepted Answer

The Singapore GST rate is 9% from 1 January 2024. It increased from 7% to 8% on 1 January 2023, and then from 8% to 9% on 1 January 2024. The rate is charged on the value of taxable supplies (standard-rated goods and services). Singapore's GST is similar to Value Added Tax (VAT) systems used in other countries.

Question 3

What revenue counts towards the S$1M GST threshold?

Accepted Answer

Only taxable supplies count towards the S$1M threshold. Taxable supplies include standard-rated (9% GST) and zero-rated (0% GST, e.g., exports) supplies. Exempt supplies do NOT count — these include financial services (interest, insurance premiums), sale and rental of residential property, and investment precious metals. Out-of-scope supplies (e.g., third-country transactions) also do not count.

Question 4

Should I voluntarily register for GST if I'm below S$1M?

Accepted Answer

Voluntary GST registration makes sense if: (1) Your customers are mostly GST-registered businesses who can claim back the GST you charge (B2B); (2) Your input GST on purchases is significant (high-purchase businesses like retailers or manufacturers); (3) You want to project credibility to larger corporate clients. It does NOT make sense if: your customers are individual consumers (B2C) who cannot claim input tax; your purchases are minimal; or the quarterly filing admin burden outweighs the benefits. Once voluntarily registered, you must remain registered for at least 2 years.

Question 5

What is input tax and output tax for GST purposes?

Accepted Answer

Output tax is the GST you charge and collect from your customers on your sales. Input tax is the GST you pay on your business purchases (from GST-registered suppliers). Net GST payable to IRAS = Output tax − Input tax. If your input tax exceeds your output tax (e.g., you export goods that are zero-rated), you receive a GST refund from IRAS. Businesses with significant GST-inclusive purchases benefit from registration as they can reclaim this input tax.

Question 6

What are the GST filing obligations in Singapore?

Accepted Answer

GST-registered businesses must file quarterly GST returns (F5 or F8) with IRAS within 1 month after the end of each accounting period. For businesses with more than S$10M in annual revenue, monthly filing may be required. Returns and payment are submitted via myTax Portal. Late filing incurs a S$200 penalty; late payment incurs a 5% late payment penalty. IRAS also conducts audits — businesses must maintain GST records for at least 5 years.

Month	Monthly Revenue	Rolling 12-Mo	Status
Jan	S$50K	S$50K	S$950K to go
Feb	S$53K	S$103K	S$898K to go
Mar	S$55K	S$158K	S$842K to go
Apr	S$58K	S$216K	S$784K to go
May	S$61K	S$276K	S$724K to go
Jun	S$64K	S$340K	S$660K to go
Jul	S$67K	S$407K	S$593K to go
Aug	S$70K	S$477K	S$523K to go
Sep	S$74K	S$551K	S$449K to go
Oct	S$78K	S$629K	S$371K to go
Nov	S$81K	S$710K	S$290K to go
Dec	S$86K	S$796K	S$204K to go

Item	Details
GST Rate	9% (from 1 Jan 2024)
Mandatory threshold	S$1 million taxable turnover (12-month rolling)
Registration deadline	Within 30 days of exceeding threshold
Filing frequency	Quarterly (or monthly for large businesses)
Voluntary registration	Allowed; must remain registered ≥2 years
Exempt supplies	Financial services, residential property rental, precious metals
Zero-rated supplies	Exports, international services (0% but input tax claimable)

GST Registration Calculator Singapore 2026

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