Taxes for Shipments Going to Singapore: Singapore’s national Goods and Services Tax (GST) took effect on January 1, 2023. Starting then, if your business meets certain financial thresholds every year, you may need to register with Singapore's Inland Revenue Authority and include your GST number on shipments of a certain value sent to the country. Here's what you need to know:
What is Singapore's GST?
GST on Low-Value Goods: Singapore's GST requires shippers to pay taxes on shipments going to Singapore that contain low-value goods, meaning shipments valued at or below $400 SDG (Singapore dollars).
When you need to register for Singapore's GST
Register for GST When You Meet the Following Criteria: Whether you sell goods on a marketplace like Etsy or not, you will be required to register for GST in Singapore if your business meets the following thresholds within a calendar year (or if you expect to meet them in any 12-month period):
Send direct-to-consumer supplies of low-value goods to Singapore exceeding 100,000 SDG (about $74,500 USD)
Have annual global revenue exceeding 1 million SGD (about $745,000 USD, as of 7/2024)
If You Don't Meet the Criteria: If your business doesn't meet either of these criteria, you won't be required to register for GST.
Where to register with GST
Registration Link: Should your business need to register with Singapore's GST, you can do so here: https://form.gov.sg/#!/628c35095285380016698317
When you register, you'll receive a GST number from the Inland Revenue Authority of Singapore that you'll be able to provide on your international labels.
Adding your GST number to your labels
Use the International Tax ID Field: Since Pirate Ship automatically generates customs forms and commercial invoices for all international labels, all you need to do is enter the GST number into the International Tax ID field in the Customs Form section when creating your label 👌
Here's where that is:
Indicate Whether GST is Paid: Singapore's Inland Revenue Authority also suggests that you put an indicator beside each item on your customs form or commercial invoice on whether the item has the GST paid.
What if I don't register?
Failure to Comply May Result in Recipient Taxes: If you fail to comply with the rules of the GST scheme, your shipment may be subject to taxation at the border, which will be charged to your recipient along with a customs fee. However, there are no fines or penalties for the shipper (in this case, you).
For more information, visit Singapore's Inland Revenue Authority website.
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