AceChamp provides a full range of services that enables business owners to focus on running a profitable business without being encumbered by laborious and unproductive paperwork. This includes specialised experience in indirect taxes such as Singapore’s GST (Goods and Services Tax). The tax professionals at AceChamp are more than capable of managing even the most intricate administrative burdens and responsibilities, to ensure that your company’s books and records will be above reproach.

GST registration has been implemented since 1st April 1994 in Singapore. It is now a mandatory requirement for companies with an annual turnover greater than one million Singapore dollars for the past 12 months, whether based on either a retrospective or prospective basis. GST is intended to be a means to lower personal and corporate income tax rates. By collecting GST, the cost of doing business is reduced, resulting in lower prices. Businesses do not suffer a tax cost since the real taxpayer is the end-user.

Companies may also opt for voluntary registration of GST. By doing so, your company would be entitled to the benefits of claiming input tax incurred in the course of your business, particularly when you make purely zero-rated supplies (exports or international services).