GST was first introduced in Singapore on 1 Apr 1994. Currently, you are required to charge and collect GST at 7% on local sales of goods and services made in Singapore unless you are selling, renting out residential properties or providing financial services.
Rates of tax over the years:
| Year |
GST Rate |
| 1 Apr 1994 to 31 Dec 2002 |
3% |
| 1 Jan 2003 to 31 Dec 2003 |
4% |
| 1 Jan 2004 to 30 Jun 2007 |
5% |
| 1 Jul 2007 onwards |
7% |