The Goods and Services Tax (GST) is Singapore’s version of a value-added tax. Upon incorporation, registration is not mandatory. However, you must register for GST if:

• Your taxable turnover at the end of any calendar year exceeds S$1 million (Retrospective basis).

• You reasonably expect your taxable turnover to exceed S$1 million in the next 12 months (Prospective basis).

Businesses with a turnover under S$1 million can still choose to register voluntarily if it makes financial sense for claiming input tax credits.