Rikvin on singapore gst service


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Preliminary Information on Singapore Permanent Resident Application and Procedures – offered and explained by Rikvin, Singapore’s leading company registration firm and business solutions provider.

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Rikvin on singapore gst service

  1. 1. Rikvin On Singapore GST ServiceGST Service in Singapore is one of the services specialized by Rikvin, Singapore’sleading corporate solution provider. GST is a tax charged on the supply of goods andservices made in Singapore and on the importation of goods into Singapore. Thecurrent rate for GST is 7%.“Goods and Services Tax (GST) is patterned from Valued Added Tax (VAT) in othercountries and is a new form of tax in Singapore. GST was implemented on 1st April1994 in Singapore. The standard of GST Act is also patterned from the UK VATlegislation and New Zealand GST legislation. The Inland Revenue Authority ofSingapore (IRAS) is a government agency that administers, assesses, collects andenforces payment of GST,” Rikvin said.GST goal is to implement a lower personal and corporate income tax rates whilemaintaining a fairly reasonable revenue base for the government.First, Rikvin discussed who could register to GST. These are Sole proprietorships,Partnerships, Limited Liability partnerships, Companies, Clubs, associations,management corporations or organizations, Non-profit organizations, Statutoryboards and Government bodies.Next, Rikvin also discussed the reasons why there is a need to register for GSTincluding the privilege to claim back the GST incurred on their business purchases,privilege to claim GST refund when GST paid exceeds GST collected and privilege toclaim GST incurred on business purchases when GST rate increase.In conclusion, Rikvin presented each of the GST schemes including GST assistancescheme, Major Exporter scheme (MES), Licensed Warehouse scheme and Zero GSTWarehouse scheme (ZGS).About the Publisher:Rikvin provides a complete corporate solution under one roof for which includescompany registration Singapore or assistance to start a Singapore company, openingof corporate accounts, business registration such as Singapore subsidiaryregistration, Singapore GST service, Singapore payroll services, immigration relatedto work passes visa and compliance services in Singapore. The firm has alsoestablished services for local and foreign individuals who plan to have a Singaporepermanent resident status.Our office is located at Raffles Place, in the heart of the Singapore business district.("CBD") If you are in our neighborhood and want to discuss any aspect of our servicethen feel free to come in to our offices during business hours. Appointments arewelcome but definitely not necessary.Rikvin Consultancy Pte Ltd
  2. 2. Address: 20 Cecil St. #14-01 Equity Plaza, Singapore 049705 (Next to Republic Plazaand Raffles Place MRT)Website: http://www.rikvin.comMain Line: (65) 6438 8887Fax: (65) 6438 2436