GST SUBMISSION SERVICE
Goods and Services Tax, widely known as GST is a broad-based consumption tax levied on the import of goods (collected by Singapore Customs), as well as nearly all supplies of goods and services in Singapore. The current rate of GST is 7% for GST-registered businesses.
It is compulsory for a business to register for GST if its annual turnover is expected to exceed or has already exceeded S$1 million from the sales of taxable goods and services. However, a business with a turnover of less than S$1 million may register for GST voluntarily, subject to the approval of the Comptroller’s discretion. If a business has chosen to volunteer, they must remain registered for a minimum of 2 years and comply with the regulatory requirements.
For the sale and lease of residential properties, financial and international services and the export of goods, GST is exempt. These services are not subject to GST and thus you should not pay extra if you do not have to.
The process of filling for GST can be a tad tedious and cumbersome. Thankfully, our professional and experienced team at MAL is able to assist you.
MAL’s GST Services will assist you in:
GST Registration and Deregistration services
MAL offers GST Registration/Deregistration services. Some of the advantages of utilizing such services are as follow.
OUR VALUED CLIENTS WITH THE FOLLOWINGS: