GST Registration in Singapore – Expert Service by Lanturn
Goods and Services Tax (GST) is a tax registered businesses in Singapore must account for once they reach a certain turnover threshold. Similar to Value-Added Tax or VAT, GST is a consumption tax levied on the import of goods and most of the supplies of goods and services in Singapore. It is key to managing tax obligations and complying with Singapore’s law. Whether you are a startup founder or an international entrepreneur, Lanturn simplifies GST filing – reducing admin work, ensuring compliance and streamlining the process with expert services.What is GST Registration in Singapore?
GST registration is the process through which a business is formally recognised by the Inland Revenue Authority of Singapore (IRAS) as a GST-registered entity. Upon successful registration, IRAS will send a letter containing the GST registration number and the effective date of registration. This GST registration number signifies that the business is legally authorised to charge GST on taxable supplies.
Lanturn’s GST Registration Pricing
Lanturn offers comprehensive GST filing services designed to fit your business needs with prices tailored for you:
| GST Registration | Quarterly GST filing | Dormant Returning filing |
|---|---|---|
| Assist in GST registration Singapore submission to IRAS. | Assist in GST quarterly submission to IRAS. | Assist with dormant tax filing (Form C-S) / Form C-S(Lite) / Form C). |
| Starts from S$500 | Starts from S$500 | Starts from S$500 |
GST Registration Requirements in Singapore
In Singapore, GST registration depends on the company’s annual taxable turnover over a specific period. Understanding these GST registration requirements ensures that you remain compliant and make informed business decisions.
Mandatory GST Registration Criteria
Businesses in Singapore are required to register for GST if they fulfil the following criteria:
- Their annual taxable turnover exceeds S$1 million. This turnover threshold applies to businesses providing taxable goods and services.
- Businesses expecting to exceed S$1 million in 12 months
- Any joint venture that fulfils the specific conditions
As a GST-registered entity, you are responsible for charging and accounting for GST on the goods and services you sell, keeping records, and displaying prices, including GST.
Effective in January 2023, foreign businesses – especially overseas suppliers – must register for GST under the overseas vendor registration regime if they meet the following criteria:
- Their global annual taxable turnover exceeds S$1 million.
- Their B2C sales of low-value goods and remote services, such as digital services and remote non-digital services to Singapore, exceed S$100,000
Similarly, businesses with an annual taxable turnover below S$1 million can register GST voluntarily to claim input tax credits on the purchases made for the companies. However, this also requires compliance with additional tax reporting obligations.
Key Documents Required
To register for GST, these are the key documents required for different types of businesses:
Businesses with Unique Entity Number (UEN):
- The latest copy of the ACRA business profile
Businesses incorporated overseas:
- English Certificate for Incorporation
- Appointment of Local Agent
Businesses registering GST voluntarily:
- GIRO application form
- Acknowledgement pages from the e-learning course ‘Overview of GST’
Why Choose Lanturn for GST Registration in Singapore
Doing GST registration with IRAS may seem like a hassle, but becoming a GST-registered entity offers valuable benefits that can give businesses a competitive edge. Here are some key benefits of why you should choose Lanturn for GST registration in Singapore:
Reliable Timely Support
For foreign entrepreneurs or companies involved in international trade, GST registration in Singapore isn’t just about compliance – it’s a game-changer. It facilitates cross-border transactions and unlocks global business opportunities, making expansion smoother and more efficient. Having the right support makes all the difference in business. Our team of experts is committed to providing personalised support tailored to your unique business needs, ensuring we can unlock new business opportunities for you.
Access Expertise
GST-registered businesses can claim the GST on purchases made for business operations, such as office supplies, professional services and equipment. These input tax credits can minimise the business’s tax burden. At Lanturn, you can be assured that you will gain access to trustworthy expertise from our team of experienced tax experts with extensive knowledge of Singapore’s tax landscape. We understand the complexities of the process and guide you with precision and care to ensure compliance.
Customised Solutions
When a company opts for GST registration, it can maintain competitive pricing. As the end consumer bears GST, businesses can spread the tax burden on goods and services to ensure prices remain competitive. Our corporate services – handled by experienced tax specialists – offer customised insights about tax so you can reach your business goals with confidence and peace of mind.
Post-Registration Support
GST registration is just the beginning. Lanturn offers ongoing support, including GST filing, reporting and compliance checks. This ensures your business stays fully compliant and avoids any costly penalties down the road.
Simplify Your GST Filing Compliance with Lanturn
GST registration is crucial for businesses of all sizes in Singapore engaged in the trade of goods and services. When a company’s annual taxable turnover exceeds S$1 million or is anticipated to surpass this threshold, it must register for GST. Ensuring proper GST compliance and timely remittance is vital to avoid penalties and legal consequences that could harm your company’s reputation.
Whether you are a foreign entrepreneur or a new startup, navigating the process while remaining compliant can feel overwhelming. At Lanturn, our dedicated team of experienced tax specialists will provide valuable insight and help you navigate the complexities of the GST filing process and corporate tax filing so that you can move forward in your business with clarity and confidence.
Let’s make GST filing stress-free. Speak to us today!
Frequently Asked Questions (FAQs)
Companies are required for GST registration in Singapore if their annual taxable turnover exceeds S$1 million, either at the end of the calendar or they are expected to do so in the next 12 months. IRAS may grant exemptions to businesses that meet certain criteria, such as having more than 90% zero-rated supplies and being in a net refundable position if they were GST-registered. Overseas businesses that plan to expand in Singapore must register for GST if the annual global taxable turnover exceeds S$1 million. If your turnover is below this threshold, you may still choose to register voluntarily after careful consideration.
A corporate service provider like Lanturn has a team of experienced tax experts who stay current with Singapore’s evolving tax regulations, offering valuable insights to minimise tax liabilities and check if your business is meeting the GST obligations.
Failing to register or registering late for GST may result in a fine of up to S$10,000 and a penalty of 10% of the tax due. However, penalties may be waived for businesses that come forward to register for GST in a timely manner.
Lanturn provides GST registration filing services starting from S$500. Speak to us to find out more.
GST returns are typically filed quarterly or annually based on your registration type and accounting period. Businesses using General Interbank Recurring Order (GIRO) get an additional 15 days to file. Those on a special GST accounting period have one month from the end of that period to submit their GST returns.
