Preliminary Information on Singapore Permanent Resident Application and Procedures – offered and explained by Rikvin, Singapore’s leading company registration firm and business solutions provider.
1. Rikvin On Singapore GST Service
GST Service in Singapore is one of the services specialized by Rikvin, Singapore’s
leading corporate solution provider. GST is a tax charged on the supply of goods and
services made in Singapore and on the importation of goods into Singapore. The
current rate for GST is 7%.
“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 implemented on 1st April
1994 in Singapore. The standard of GST Act is also patterned from the UK VAT
legislation and New Zealand GST legislation. The Inland Revenue Authority of
Singapore (IRAS) is a government agency that administers, assesses, collects and
enforces payment of GST,” Rikvin said.
GST goal is to implement a lower personal and corporate income tax rates while
maintaining 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, Statutory
boards and Government bodies.
Next, Rikvin also discussed the reasons why there is a need to register for GST
including 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 to
claim GST incurred on business purchases when GST rate increase.
In conclusion, Rikvin presented each of the GST schemes including GST assistance
scheme, Major Exporter scheme (MES), Licensed Warehouse scheme and Zero GST
Warehouse scheme (ZGS).
About the Publisher:
Rikvin provides a complete corporate solution under one roof for which includes
company registration Singapore or assistance to start a Singapore company, opening
of corporate accounts, business registration such as Singapore subsidiary
registration, Singapore GST service, Singapore payroll services, immigration related
to work passes visa and compliance services in Singapore. The firm has also
established services for local and foreign individuals who plan to have a Singapore
permanent 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 service
then feel free to come in to our offices during business hours. Appointments are
welcome but definitely not necessary.
Rikvin Consultancy Pte Ltd
2. Address: 20 Cecil St. #14-01 Equity Plaza, Singapore 049705 (Next to Republic Plaza
and Raffles Place MRT)
Website: http://www.rikvin.com
Main Line: (65) 6438 8887
Fax: (65) 6438 2436