Indranee Rajah on Goods and Services Tax (Amendment) Bill
Goods worth S$400 and below - or low-value goods - imported to Singapore by air or post will be subjected to the Goods and Services Tax (GST) under a Bill put up for debate in Parliament on Tuesday (Nov 2). This will take effect from January 2023. GST will also be imposed on business-to-consumer imported non-digital services, such as live interaction with overseas providers of educational learning and telemedicine. Second Minister for Finance Indranee Rajah said the changes will level the playing field for local businesses to compete effectively and keep Singapore’s GST system resilient in a growing digital economy. The Bill also updates the GST treatment of media sales, in view of the growth in online advertising.
Goods worth S$400 and below - or low-value goods - imported to Singapore by air or post will be subjected to the Goods and Services Tax (GST) under a Bill put up for debate in Parliament on Tuesday (Nov 2). This will take effect from January 2023. GST will also be imposed on business-to-consumer imported non-digital services, such as live interaction with overseas providers of educational learning and telemedicine. Second Minister for Finance Indranee Rajah said the changes will level the playing field for local businesses to compete effectively and keep Singapore’s GST system resilient in a growing digital economy. The Bill also updates the GST treatment of media sales, in view of the growth in online advertising.
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