Who needs to register for GST?
Businesses with a taxable turnover exceeding $1 million are required to register.
If your business doesn’t exceed $1 million in annual taxable turnover, you may still choose – after careful consideration – to voluntarily register for GST.
Benefits of registering
If you’re GST registered, you can collect GST credits from IRAS on your purchases of goods and services from your GST-registered suppliers.
What do I need to register?
To register, you’ll need to:
- determine your type of GST registration
- complete an e-learning course (if registering voluntarily)
- submit your application for GST registration
How to register for GST
Once you’re registered for GST
You’ll receive a letter from IRAS confirming that the business is GST registered. From the date of registration, you must:
- start charging and collecting GST
- file GST F5 tax returns electronically through myTax Portal
- pay GST owed to IRAS within a month of filing a return
Most businesses file GST returns quarterly; however you can apply to file monthly. If you have no GST transactions to report, then you must file a nil return.
Disclaimer: Xero does not provide accounting, tax, business or legal advice. This guide has been provided for information purposes only. You should consult your own professional advisors for advice directly relating to your business or before taking action in relation to any of the provided content.
Guide to GST
Making a start with GST? Don’t worry. It’s a little extra admin, but follow our guide and you’ll soon be on top of it.
- What is GST?
You’ve probably heard about GST before – it stands for goods and services tax and is added onto prices in Singapore.
- Registering for GST
Find out if your business needs to register for GST. If so, learn how to do it and find out what happens next.
- Calculating GST and issuing tax invoices
If you’re a GST-registered business you must add GST to your prices. You also need to issue GST invoices. Find out how.
- Claiming back GST
GST-registered businesses can claim back the GST they pay on business expenses. Learn when and how.
- Working out your GST refund or payment
Working out GST is simple maths. Keeping track of all your transactions is the tricky part. Let’s learn the process.
- GST returns and due dates
GST-registered businesses must declare how much they’ve collected and paid. You do this by filing GST returns (GST F5).
- Tools and guides for your business
Now you know the ins and outs of GST, but it can be tough to keep on top of it all. Xero’s got the resources to help.
Download the guide to GST
Get your small business tax sorted. Fill in your details to get our full GST guide as a PDF.