In Singapore, there is a broad-based system of consumption tax. It’s known as GST or Goods and Services Tax. This tax was implemented in order to make Singaporean economy more competitive with lesser reliance on income-based taxes. Almost all goods and services that are produced or imported in this city-state are liable to pay GST. But, some services are exempted from its net.
Every business needs to register for GST if the taxable turnover of the company exceeds S$1 million in the previous year or is expected to exceed that limit in the next 12 months. There is a lengthy process to apply and register for GST. That’s where we come to help you. We have a team of taxation experts to look after the entire process and to avoid discrepancies in application.
Procedure for Registration:
You can avail of GST registration in Singapore through an online portal of IRAS or by submitting an application in paper format. Whatever be your preference, we take care of every minute detail to ensure seamless completion of procedures. The process takes 30 days for compulsory registration and 30 days for voluntary GST registration. We not only file applications but also keep track of the latest updates for timely processing of the same.
How Do We Help?
TNPL is committed to providing expert assistance for fast and effective GST registration. We also ensure compliance with the laws and regulations specified for Singapore-based businesses. Our services include:
- GST registration where we will register your company with IRAS by following all the mandatory steps on behalf of your business.
- GST filing that includes returns based on the impact of this registration on your business. We ensure timely filing of returns along with routine follow-ups.
- GST reporting in compliance with IRAS. We also manage and answer queries from the department and provide GST computation for your company.
- GST planning based on a comprehensive assessment of your company and its operations. Accordingly, we advise the right GST filing cycle suitable to your business.
If you seek more information about this service, please get in touch with our experts today!