GST Registration in Singapore – Expert Service by Lanturn

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.