Singapore gst service offered by rikvin


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Comprehensive guide on Singapore GST service of Rikvin, Singapore’s leading company registration firm.

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Singapore gst service offered by rikvin

  1. 1. Singapore GST Service Offered By RikvinRikvin, a leading Singapore based business registration firm offers quality SingaporeGST Service. GST is a tax charged on the supply of goods and services made inSingapore and on the importation of goods into Singapore. The current rate for GSTis 7%.“The concept of Goods and Services Tax (GST) is patterned from Valued Added Tax(VAT) in other countries and is a new form of tax in Singapore. GST was implementedon 1st April 1994 in Singapore. The standard of GST Act is also patterned from theUK VAT legislation 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.Rikvin highlighted the objective of GST that is to lower personal and corporateincome tax rates while maintaining a fairly reasonable revenue base for thegovernment.Rikvin also discussed a brief overview on GST – definition, registration requirements,GST returns and GST schemes were discussed on the presentation.First, it was discussed who can 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, it was 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.Finally, Rikvin presented each of the GST schemes including GST assistance scheme,Major Exporter scheme (MES), Licensed Warehouse scheme and Zero GSTWarehouse scheme (ZGS).More Information:Rikvin provides a complete corporate solution under one roof for which includesincorporation or assistance to start a Singapore company, opening of corporateaccounts, business registration such as Singapore subsidiary registration, SingaporeGST service, Singapore corporate tax, Singapore payroll services, immigrationrelated to work passes visa and compliance services in Singapore. The firm has alsohelped encourage foreigners to start and establish a business presence in Singapore.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 are
  2. 2. welcome but definitely not necessary.Rikvin PTE LTD20 Cecil Street, #14-01, Equity Plaza, Singapore 049705Main Lines: (65) 6438 8887Fax (65) 6438 2436