Goods
and Services Tax or GST is a broad-based consumption tax levied on the import of goods (collected
by Singapore Customs), as well as nearly all supplies of goods and services in
Singapore. In other countries, GST is known as the Value-Added Tax or VAT.
GST
exemptions apply to the provision of most financial services, the supply of digital payment tokens, the sale and
lease of residential properties, and the importation and local supply of
investment precious metals. Goods that are exported and international services
are zero-rated.