In Singapore, the Goods and Services Tax is very similar to the Value Added Tax (VAT) imposed in most countries. Registration for GST comes under two categories: Compulsory and Voluntary. Under certain conditions, it is possible that your business is exempt from registering for GST. However, voluntary registration for GST could be valuable to your business. Here are the benefits of GST registration for your business: Set up a Presence In a competitive market like Singapore, setting up your company’s presence can be an immense challenge. Big businesses are mandatory to register for GST as their revenue usually puts them in a compulsory category. Voluntarily registering for GST makes your business appear as well-known as the big players and lets clients know that you stand for business. When clients and vendors find out that your company is registered for GST, they automatically make the link that your business is of a certain size and generates great revenue. Lower Individual
Onestopaccounting.com is a Singapore based company selling a diverse and extensive range of accounting software. We provide simple, customised and IRAS-compliant solutions that cover the fields of accounting, inventory management, payroll, point of sales (POS), fixed asset and ERP packages. Our most popular brands are respected across the globe, including MYOB, EZ, Accpac, Quickbooks and UBS. Hurry! Avail Free Demo Online! Call Us! for Free Accounting Software!