Many businesses opt for voluntary registration under GST. A business having an annual turnover of less than S$ 1million threshold for compulsory registration can opt for a voluntary GST filing to claim the Input Tax Credit (ITC) and expand business opportunities. Businesses can deduct the GST paid on the purchases only if both the suppliers …
Singapore’s economy is recovering from the Covid-19, so the government continues finance to support vulnerable and still-struggling segments of the industries. Mr. Heng Swee Keat, Deputy Prime Minister and Minister of Finance delivered the Budget 2021 speech on 16 Feb 2021. Due to Covid-19, Singapore has incurred a rare budget deficit of $64.9 billion for …
Singapore Budget 2021: What Businesses Need To Know Read More »