Goods and Services Tax (GST)

Goods and Services Tax (GST)

GST Registration in Singapore

For companies operating in Singapore, it is vital for them to know their GST registration status. For this reason, seeking the help of experienced professionals like Ace Financial is the way to go. That way, business owners also can be sure that they are complying with Singapore’s business tax laws.

The Scope of GST in Singapore

Typically, GST applies to companies in Singapore, whose total annual turnover is more than $1 million. Also, establishments that forecast their turnover to exceed $1 million within the next fiscal year fall under the purview of GST regulations in Singapore.

For the two scenarios mentioned above, both companies must register to apply for GST not more than 30 days from their incorporation in Singapore. It is also possible for companies that do not fall under the two categories to apply for GST. In such a case, the decision becomes voluntary instead of mandatory.

However, it is essential for such companies to seek the help of professionals like Ace Financial. This step will also help such companies critically examine the cost/benefits of such a decision. Voluntary GST registration comes with a minimum period of two years within which the company must stay registered.

Requirements for GST Registration in Singapore

For companies that fall under the compulsory GST regulation in Singapore, they must show evidence of past turnovers more than $1 million along with ACRA registration document as well as Business bank accounts. Such firms will also have to provide a detailed breakdown of their products and services plus a one-year revenue forecast.

Apart from guiding companies through the process, we at Ace Financial can also provide expert advice concerning other issues with the process. For example, we can help businesses know how to defray the costs associated with GST filing in Singapore. There are useful government-sanctioned schemes that can help firms cover the cost of GST registration in Singapore. These include the robust accounting software assistance provided by agencies such as the Infocomm Development Authority of Singapore, as well as, the Inland Revenue Authority of Singapore (IRAS).

Procedure for GST Filing in Singapore

The process for GST filing in Singapore is slightly different for compulsory and voluntary registrations. In the case of voluntary registration, a senior executive of the company (company director, partner, trustee, owner, etc.) must complete a couple of online courses and a test.

For compulsory GST registration in Singapore, online course isn’t required. The company simply visits the myTax Portal” or submits a hard copy application. When completed, the company receives its GST registration number and the effective date of its GST registration.

Goods and Services Tax (“GST”) in Singapore

GST Registration Singapore – The scope of our GST-related services inclusive of:

  • Providing advice on GST registration requirements.
  • Setting up of procedures for newly registered traders for GST submission.
  • Performing quarterly GST Submission.
  • Attending to tax queries from Comptroller of GST.
  • Rectifying errors or omission of transactions during the pas GST submission.
  • Applying for registration/deregistration for GST.
  • Advising any other GST related issues.


Hence, as a GST-registered business in Singapore, you are required to submit the GST return (i.e. GST Form 5/8) to the Comptroller of GST within one month of the end of your accounting period.  In your return, you need to declare your sale of goods and services to your customers, your purchases from GST registered businesses, the GST collected and GST to be claimed for the relevant accounting periods.

It is compulsory to e-file your GST Form 5 return via IRAS portal under the regulation of GST.   We can provide this service for FREE if you engage our bookkeeping services.

  • Extension of due date for submission of GST Return
  • Correction of errors in GST return
  • Applying for Special Accounting Period/Changing GST Accounting Period.
  • Applying for Special GST Registration (Group registration and Divisional registration)
  • Compulsory/Voluntary Cancellation of GST Registration
  • Others