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Epica FAQ Series

What is the registration rule for different types of business entities to determine my liability to register for GST (Goods & Service Tax)?

GST

What is the registration rule for different types of business entities to determine my liability to register for GST (Goods & Service Tax)?

You are required to register for GST under two conditions :

  • If the taxable turnover of your company is more than S$1 million for the past 12 months.
  • If the taxable turnover of your company is expected to be more than S$1 million in the next 12 months.

In case of a sole-proprietorship, the entire taxable turnover (from all sole-proprietorship businesses, vocation, provision, and trade) of sole-proprietor (individual or corporate entity) is combined. You are liable to register for GST if :

  • The entire taxable turnover is more than S$1 million for the past 12 months
  • The whole taxable turnover is expected to be more than S$1 million in the next 12 months.

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