2023

On and after
1 January 2023

Singapore’s Goods and Services Tax (GST) prevailing rate will be increased from 7% to 8%

2024

On and after
1 January 2024

Singapore’s Goods and Services Tax (GST) prevailing rate will be increased from 8% to 9%

If full payment was received before the rate change on 1 Jan 2023, the supply is subjected to 7% GST. 

 

In the event that services have neither been fulfilled, nor payment received for the invoice that was issued before 1 January 2023, the supply will be subjected to 8% GST. A credit note is required to cancel the tax invoice issued before 1 January 2023, and a new invoice at 8% GST is to be issued.