As you may be aware, Goods and Services Tax (GST) will be increased for the country of Singapore from 8% to 9% effective 1 January 2024.
This increase was announced by Finance Minister Lawrence Wong during Budget Day on 8 February 2022. The two-stage implementation started at 8 percent w.e.f 1 January 2023 and 9 percent w.e.f 1 January 2024. The increase is set to keep up with the growing healthcare, education, and security needs of Singaporeans. For more information on the announcement, kindly click here.
If you have any concerns or questions, please don’t hesitate to contact the Secretariat at 6560 5051.
