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 1 Jan 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.