How to Prepare For Singapore's Upcoming GST Increase

Written By Accela Finance & Corporate Secretary

Photo by StellrWeb on Unsplash

In Singapore’s Budget 2022 announcement, the Minister for Finance announced that the Goods and Services Tax (GST) rate will be increased in stages starting in 2023. While this was originally planned for 2022, the increase was delayed and shifted to two phases, from 7% to 8% from 1 January 2023 and from 8% to 9% from 1 January 2024. The revenue from this increase is to be put towards supporting the company’s healthcare costs and taking care of seniors. 

Learn more about the upcoming GST increase here.

Accela Finance & Corporate Secretary

Accela’s world-class finance team has experience working with over 200 companies across 20 different countries spanning 12 industry verticals. From bookkeeping to payroll to compliance, Accela’s diverse offerings can meet the many needs of any business. Our flexible approach enables us to work with all company types. Whether you’re an early-stage startup or a large multinational, Accela provides bespoke, adaptive and high-touch financial support.

https://www.accelafinance.asia/
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