Singapore’s GST rates will increase over the next two years.
On February 18th, 2022, the Singapore Minister of Finance announced that the Goods and Services Tax rate will be increased over the course of two years:
- From 7% to 8% effective from January 1st 2023; and
- From 8% to 9% effective from January 1st 2024.
Following this, AYP wishes to inform you that we will charge a GST rate of 8% for our services after January 1st 2023.
Visit the IRAS website for more information on this rate change.