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Tito Isaac & Co LLP
  • News
    • JTN China visits TIC Singapore
    • Justin on MoneyFM893
    • GST increase
  • Lawyers
    • Managing Partner >
      • Tito Isaac
    • Senior Partners >
      • Justin Chan
      • Leong Kum Kwok
    • Chief Operating Officer >
      • Raju Ramiah
    • Partners >
      • Lee Wei Yung
      • Gokul Haridas
      • Kawal Pal Singh
      • Chong Yi Mei
    • Consultants >
      • Ong Beng Khim
      • M Ramasamy
      • Madhavan Devadas
      • Harpal Singh
    • Of Counsel >
      • Wong Hui Min
      • Chloe Chong
      • Jaspreet Kaur
    • Senior Associates >
      • T Dinesh
      • Cassandra Kang
      • Johnathan Lee
    • Associates >
      • Adrienne Milton
      • Lucella Jeraled
      • Sindhu Nair
      • Lim Chu Yech
      • Kong Jia Xuan
      • Kimberly Yeo
      • Benjamin Chang
  • Practice Areas
    • Litigation and Dispute Resolution
    • Finance and Payments
    • Banking and Insurance
    • Privacy, Technology and Intellectual Property
    • Corporate and Commercial >
      • Aviation Law
      • Business Contracts
    • Real Estate
    • Private Clients
  • Articles
  • About
    • Admin Team >
      • COO
      • CFO
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New GST Rate

The Inland Revenue Authority of Singapore (IRAS) has announced that the Goods & Services Tax (GST) rate will be raised from 7% to 8% on 1 Jan 2023, and from 8% to 9% on 1 Jan 2024.

Our services are subject to GST and as a result, you will be affected.

For invoices that are issued prior to 1 January 2023, IRAS has set the following guidelines for compliance.
Invoice Date and Payment Schedule
GST Rate
Invoice is dated before 1 Jan '23 and the full payment is received before 1 Jan '23
7%
Invoice is dated before 1 Jan '23 and the full payment is received after 31 Dec'22
8% will be imposed on the unutilised portion of the contract.

The utilised portion of the contract will remain at 7%.
Invoice is dated after 31 Dec '22
8%
Here is the link on the GST increase for your reference: https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-rate-change/gst-rate-change-for-consumers1
DISCLAIMER
This message or publication does not necessarily deal with every important topic nor cover every aspect of the topics with which it deals. Its contents are intended to provide general information only and do not contain or convey any legal or other advice. Although we endeavour to ensure that the information contained herein is accurate, we do not warrant its accuracy or completeness or accept liability for any loss or damage arising from any reliance thereon.

CONTACT

Tel: +65 6533 0288
Fax: +65 6533 8802
Email: info@titoisaaclaw.com

ADDRESS

Tito Isaac & Co LLP
Level 30
1 North Bridge Road
Singapore 179094
SINGAPORE

MAP

REGISTRATIONS

Unique Entity Number: T07LL1728C
Goods & Services Tax: M90359250C

FOLLOW

Copyright 1999 - 2023 Tito Isaac & Co LLP
  • News
    • JTN China visits TIC Singapore
    • Justin on MoneyFM893
    • GST increase
  • Lawyers
    • Managing Partner >
      • Tito Isaac
    • Senior Partners >
      • Justin Chan
      • Leong Kum Kwok
    • Chief Operating Officer >
      • Raju Ramiah
    • Partners >
      • Lee Wei Yung
      • Gokul Haridas
      • Kawal Pal Singh
      • Chong Yi Mei
    • Consultants >
      • Ong Beng Khim
      • M Ramasamy
      • Madhavan Devadas
      • Harpal Singh
    • Of Counsel >
      • Wong Hui Min
      • Chloe Chong
      • Jaspreet Kaur
    • Senior Associates >
      • T Dinesh
      • Cassandra Kang
      • Johnathan Lee
    • Associates >
      • Adrienne Milton
      • Lucella Jeraled
      • Sindhu Nair
      • Lim Chu Yech
      • Kong Jia Xuan
      • Kimberly Yeo
      • Benjamin Chang
  • Practice Areas
    • Litigation and Dispute Resolution
    • Finance and Payments
    • Banking and Insurance
    • Privacy, Technology and Intellectual Property
    • Corporate and Commercial >
      • Aviation Law
      • Business Contracts
    • Real Estate
    • Private Clients
  • Articles
  • About
    • Admin Team >
      • COO
      • CFO
      • HR Executive
    • Accolades and Awards >
      • Best Law Firms in 2021
    • Talent Development
  • International
    • MSI Global Alliance
    • Vietnam
    • India
    • Indonesia
  • Contact