This is in reference to Goods and Services Tax (GST) in Singapore. A taxable supply is a supply of goods and services made in Singapore that is subject to GST. A taxable supply can either be standard rated (the current GST rate is 7%) or zero-rated supply. Most goods and services in Singapore are standard rated supplies and taxed at the standard rate of 7%.
Zero-rated supplies of goods and services are subject to 0% GST. Goods that are exported and services provided out of Singapore are zero-rated supplies and are subject to 0% GST. If an entity is GST registered and has zero-rated supplies, it can still claim the GST paid on its inputs from the Comptroller of GST.
Do note that there is a distinction between Zero-Rated Supplies and Exempt Supplies and Out Of Scope Supplies.
If you are a company owner or director and require assistance with GST matters, you can contact us at [email protected].
When in doubt, seek legal advice or consult an experienced ACRA Filing Agent.
Yours Sincerely,
The editorial team at Singapore Secretary Services
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