●Apply for a Singapore Goods and Services Tax (GST) registration number for overseas suppliers.
●Goods and Services Tax (GST) is levied on eligible low-value goods (up to S$400) when consumers purchase goods.
●Submit regular GST returns and pay tax to the Inland Revenue Authority of Singapore.
The new regulations only apply to e-commerce platforms (overseas suppliers) that meet the following minimum standards:
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global annual salesMore than 1 millionSGD.
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Annual sales of low-value goods (LVG) to SingaporeMore than 100,000SGD.
If the e-commerce platform (overseas supplier) does not meet the minimum standards for the above two elements, the low value exemption still applies (same as the existing process).
What does this mean for shippers?
>If toAn e-commerce platform for sales and delivery to individual consumers in Singapore(overseas suppliers) comply with the requirements set by the Inland Revenue Authority of SingaporeMinimum Standards(i.e. global annual sales exceeding S$1 million, and annual sales of low-value goods to Singapore exceeding S$100,000), you must provide the following additional information (if applicable):
- OVR GST number: Cover the Overseas Vendor (OVR) Singapore Goods and Services Tax (GST) registration number on the commercial invoice when shipping via DHL.
- OVR GST payment logo: In addition, it should be noted in the commercial invoice details whether GST on low-value goods will be charged at the time of purchase.
>>In order to allow smooth customs clearance of goods and ensure a good experience for end customers, e-commerce platforms (overseas suppliers) selling low-value goods to Singapore need to provide complete and accurate commercial invoice data through the DHL Express electronic shipping solution.
How can shippers avoid delays?
>To avoid delays, shippers shipping to Singapore from other parts of the world should:
√Understand changes in Singapore’s GST regulatory policy and review whether it applies to their business.
√Update the system to levy GST on low-value goods (up to S$400) sold to Singapore.
√Communicate regulatory policy changes to Singapore consumers (end customers).
√Provide complete and accurate commercial invoice data electronically with DHL Express electronic shipping solutions.
Notice:
Violations of Singapore Inland Revenue Authority regulations may result in the following consequences:
●Shipping may be delayed.
●Goods may be held in bonded warehouses.
●If GST is charged again on import, double taxation may arise.
●The Singapore Inland Revenue Authority may impose penalties.
For more information on the regulatory changes, please visit the Inland Revenue Authority of Singapore (IRAS) website (https://www.iras.gov.sg/taxes/goods-services-tax-(gst)) or Send an email to GST@iras.gov.sg
Disclaimer:Although every effort has been made to obtain, form and process the information contained herein from reliable sources, we make no representation or representation as to the accuracy, adequacy, completeness, legality, reliability or availability of such information. IMPLIED WARRANTIES. All information contained herein is provided "without alteration". In any case, DHL Express and its partners and companies that are part of the Deutsche Post DHL Group, as well as the partners, agents and employees of the aforementioned units, will not be responsible for any decision or action taken by you or anyone else based on this information. shall not be liable for any indirect, special or approximate damages, even if the possibility of these damages may have occurred.
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