Latest Updates

• Updated rates and holding periods for Additional Conveyance Duties for Sellers
• Updated illustrations

Updated rates for Additional Conveyance Duties for Sellers

• Updated infographic
• Updated rates and holding periods for Additional Conveyance Duties for Sellers
• Updated one of the FAQs

• Eligible businesses that wish to start using the GMS from 1 Jul 2025 no longer need to obtain IRAS’ approval. Consequential amendments have been made to reflect this change. The form “Self-Review of Eligibility and Declaration on Use of Gross Margin Scheme Form” is replaced by a “Self-Review of Eligibility to Use the Gross Margin Scheme (GMS)” checklist.
• Other editorial changes were made.