When is a guarantee required
We adopt a risk-based approach in reviewing applications for registration and schemes. You may be requested to provide a guarantee when registering for GST or applying/ renewing GST schemes.
The guarantee is usually required to cover a period of 2 years for GST registrations. In the case of GST schemes, the guarantee will cover the effective period of the GST schemes which may be from 3 to 5 years.
Amount and form of guarantee
We will notify you on the amount of guarantee required upon processing your application for GST registration or GST schemes.
The guarantee must be from a financial institution.