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05 March 2018

Singapore plans to increase GST rate and introduce GST on imported services

Singapore's Minister for Finance presented Budget 2018 on February 19. With respect to the Goods and Services Tax (GST), Budget 2018 proposes an increase in the GST rate from the current 7% to 9%. This increase would take place sometime during 2021 to 2025. In addition to the rate increase, Budget 2018 also introduces the imposition of GST on imported services, effective January 1, 2020.

An Indirect Tax Services group Alert, attached below, provides additional details.

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ATTACHMENT

Document ID: 2018-0491

 

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