Do You Qualify for the GST Registration in Singapore?
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SBS
Mar 1, 2015, 3:56:07 PM3/1/15
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Article Title: Do You Qualify for the GST Registration in Singapore?
Author: SBS
Word Count: 524
Article URL: http://www.isnare.com/?aid=1927773&ca=Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1927773
Easy Publish Tool: http://www.isnare.com/html.php?aid=1927773
*********************** ARTICLE START ***********************
Do I have to file the tax? Whom shall I contact for it? Where shall I pay it? These are few of the questions that swirl in the minds of new taxpayers all over the world. The Singapore tax filing also makes some of the new taxpayers both, individual and business owners to scratch their head.
Luckily, these individuals can go to Singapore tax filing firms like, SBS Consulting, to get their tax related problems solved. The firm employs qualified and experienced Certified Professional Accountants (CPAs), auditors and tax consultants. These professionals do use their industry-wide experience to fulfill the statutory compliance criteria imposed by the authorities. In short, they make it painless for their clients to file and pay their taxes.
Goods and Service Tax (GST) in Singapore
Singapore companies have to pay different types of taxes. Along with the other taxes some of the companies need to pay Goods and Service Tax (GST). Singapore tax filing services help their clients in determining whether they qualify for the GST registration in Singapore.
GST is a consumption tax. Whenever a service or goods are delivered in Singapore by a GST registered business, a 7% of GST is applied to its cost. When the time is ripe, these traders need to pass on, or file the GST collected till-date, to the IRAS’ coffers. The idea behind implementing the GST was to lessen Singapore’s dependence on the direct taxes like, personal and corporate income tax and to charge the expenditure on the consumption.
Who Qualifies for the GST registration in Singapore?
If the turnover of a business for the last 4 quarters exceeds S$1 Million or if it expects the turnover to cross the S$ 1 million mark in the next 4 quarters, then the business is eligible for GST registration. It is a compulsory move for such a business.
Alternatively, a business, for tax purposes, can decide to opt for voluntary GST registration. Whatever the case, the expert and qualified professionals employed by the Singapore tax services assist their clients in sorting out the case.
GST filing in Singapore
Singapore tax filing services also provide their guidance in determining whether their clients need special GST filing cycle or they can do with the normal, quarterly GST filing cycle. If the client requires a special GST filing cycle, then these firms plead the client’s case with the IRAS.
Most of the GST registered business opt for a quarterly cycle of GST filing in Singapore and in addition to other taxes, like, company tax, withholding tax, property tax, etc., pay their GST regularly.
The annual tax filing is the responsibility of the owners and directors of the companies. The government agency that goes by the name of Inland Revenue Authority of Singapore, is a tough nut to crack. Its officials are very strict about tax compliance from the taxpayers and do not tolerate any mistake or tax evasion in the tax filing statements. Offenders, generally, face imprisonment or fines or both.
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
Message delivered directly to members of the group:
publish-the...@googlegroups.com
*****************************************************************
Please consider this free-reprint article written by:
SBS
*****************************
IMPORTANT - Publication/Reprint Terms
- You have permission to publish this article electronically in free-only publications such as a website or an ezine as long as the bylines are included.
- You are not allowed to use this article for commercial purposes. The article should only be reprinted in a publicly accessible website and not in a members-only commercial site.
- You are not allowed to post/reprint this article in any sites/publications that contains or supports hate, violence, porn and warez or any indecent and illegal sites/publications.
- You are not allowed to use this article in UCE (Unsolicited Commercial Email) or SPAM. This article MUST be distributed in an opt-in email list only.
- If you distribute this article in an ezine or newsletter, we ask that you send a copy of the newsletter or ezine that contains the article to http://www.isnare.com/eta.php?aid=1927773
- If you post this article in a website/forum/blog, ALL links MUST be set to hyperlinks and we ask that you send a copy of the URL where the article is posted to http://www.isnare.com/eta.php?aid=1927773
- We request that you ask permission from the author if you want to publish this article in print.
The role of iSnare.com is only to distribute this article as part of its Article Distribution feature ( http://www.isnare.com/distribution.php ). iSnare.com does NOT own this article, please respect the author's copyright and this publication/reprint terms. If you do not agree to any of these terms, please do not reprint or publish this article.
*****************************
Article Title: Do You Qualify for the GST Registration in Singapore?
Author: SBS
Word Count: 524
Article URL: http://www.isnare.com/?aid=1927773&ca=Business
Format: 64cpl
Contact The Author: http://www.isnare.com/eta.php?aid=1927773
Easy Publish Tool: http://www.isnare.com/html.php?aid=1927773
*********************** ARTICLE START ***********************
Do I have to file the tax? Whom shall I contact for it? Where shall I pay it? These are few of the questions that swirl in the minds of new taxpayers all over the world. The Singapore tax filing also makes some of the new taxpayers both, individual and business owners to scratch their head.
Luckily, these individuals can go to Singapore tax filing firms like, SBS Consulting, to get their tax related problems solved. The firm employs qualified and experienced Certified Professional Accountants (CPAs), auditors and tax consultants. These professionals do use their industry-wide experience to fulfill the statutory compliance criteria imposed by the authorities. In short, they make it painless for their clients to file and pay their taxes.
Goods and Service Tax (GST) in Singapore
Singapore companies have to pay different types of taxes. Along with the other taxes some of the companies need to pay Goods and Service Tax (GST). Singapore tax filing services help their clients in determining whether they qualify for the GST registration in Singapore.
GST is a consumption tax. Whenever a service or goods are delivered in Singapore by a GST registered business, a 7% of GST is applied to its cost. When the time is ripe, these traders need to pass on, or file the GST collected till-date, to the IRAS’ coffers. The idea behind implementing the GST was to lessen Singapore’s dependence on the direct taxes like, personal and corporate income tax and to charge the expenditure on the consumption.
Who Qualifies for the GST registration in Singapore?
If the turnover of a business for the last 4 quarters exceeds S$1 Million or if it expects the turnover to cross the S$ 1 million mark in the next 4 quarters, then the business is eligible for GST registration. It is a compulsory move for such a business.
Alternatively, a business, for tax purposes, can decide to opt for voluntary GST registration. Whatever the case, the expert and qualified professionals employed by the Singapore tax services assist their clients in sorting out the case.
GST filing in Singapore
Singapore tax filing services also provide their guidance in determining whether their clients need special GST filing cycle or they can do with the normal, quarterly GST filing cycle. If the client requires a special GST filing cycle, then these firms plead the client’s case with the IRAS.
Most of the GST registered business opt for a quarterly cycle of GST filing in Singapore and in addition to other taxes, like, company tax, withholding tax, property tax, etc., pay their GST regularly.
The annual tax filing is the responsibility of the owners and directors of the companies. The government agency that goes by the name of Inland Revenue Authority of Singapore, is a tough nut to crack. Its officials are very strict about tax compliance from the taxpayers and do not tolerate any mistake or tax evasion in the tax filing statements. Offenders, generally, face imprisonment or fines or both.
*********************** ARTICLE END ***********************
- To distribute your articles go to http://www.isnare.com/distribution.php
- For more free-reprint articles go to http://www.isnare.com
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