In Singapore, Goods and Services Tax (GST) is levied. GST is a broad-based consumption tax levied on the import of goods and supply of goods and services in Singapore.
The different GST rates in Singapore are:
| Rate | Type | Goods and services |
|---|---|---|
| 2023: 8% As of 2024: 9% |
Standard | All goods and services, except those excluded |
| 0% | Zero | International services and export of goods (more info here) |
Some goods and services are exempt from tax, such as financial services, supply of digital payment tokens, sale and lease of residential properties and the import and local supply of investment precious metals.
You can find more information on exempted supplies on the Inland Revenue Authority of Singapore’s website.