The Minister for Finance announced in Budget 2018 that GST will apply to imported digital services in the context of business-to-consumer (“B2C”) transactions by way of an overseas vendor registration regime with effect from 1st January 2020.
VAT Standard rate
VAT Reduced rate
There is no reduced rate established.
If company belongs outside Singapore, it is required to register for GST in Singapore if it:
- Has an annual global turnover exceeding $1 million; and
- Makes B2C supplies of digital services to customers in Singapore exceeding $100,000.