Come 1 January 2024, the GST rate will be increased from 8% to 9%, as part of the two-step GST rate change announced by the Minister for Finance in Budget 2022. To ensure a smooth transition to the new 9% GST rate, the IRAS has issued guidance in its website which can be accessed here.

Please take the necessary steps to update your accounting systems and procedures to reflect the new GST rate of 9% from the mentioned effective date. This includes adjusting invoices, receipts, and other relevant financial documents to prevent any discrepancies in your financial records.

Businesses are required to charge GST on their supplies based on the prevailing GST rate as determined by the general time of supply rule. In other words, the time of supply will be the earlier of when an invoice is issued or when a payment is received.

 

从 2024 年 1 月 1 日起，根据 2022 年财政预算中财政部长宣布的消费税税率两步调整 的一部分，税率将从 8%提高至 9%。为确保顺利过渡到新的 9% 税率，新加坡税务局在其网站发布了相关税务指导，链接可在此处访问。

请采取必要的步骤更新您的会计系统，来反映从所提到的生效日期开始的9%税率。这包括调整发票、收据和其他相关财务文件，以防止您的财务数据中出现任何差异。

企业应根据一般供应时间原则确定现行消费税税率并对所供应商品或服务收取消费税。换句话说，供应时间将取决于发票开具时或收到付款时两者较早的时间。

 

How Transitional Rules are Applied

如何应用过渡规则

When a supply straddles across the GST rate change (e.g. before or after 1 January 2024, as the case may be), the transitional rules may apply and affect the GST rate chargeable on the supply.

当一项供应跨越消费税税率变更（例如，在2024年1月1日之前或之后）时，可能会运用过渡规则，并影响其供应上的消费税税率。

 

Supplies that Straddle Across the GST Rate Change from 8% to 9%
跨越消费税税率从8%到9%变更期间的商品与服务供应

The above refers to a supply that has one or more of the following events straddle 1 January 2024:

• The issuance of invoice
• The receipt of payment
• The delivery of goods or performance of services

上述提到的跨越是指以下其中一个或多个事件发生并跨越2024年1月1日：

• 发票的开具
• 收到付款
• 交付货物或提供服务

 

Transitional rules for supplies that straddle across the GST rate change from 8% to 9%
跨越消费税税率从8%到9%的过渡规则

In addition to the date of invoice issuance and payment receipt, the transitional rules consider when the goods are delivered, or services are performed. If the goods are delivered or services are performed (either in part or in full) before 1 January 2024, the supply (either in part or in full) may be charged with 8% GST.

除了发票开具和收款的日期之外，过渡规则还考虑了货物交付或服务履行的时间。如果货物在2024年1月1日之前（无论是部分还是全部）交付，或服务在此日期之前履行，那么供应（部分或者全部）可能会以8%的消费税税率征收。

 

Scenario 1

情景 1

Date of invoice: 发票日期:	Before 1 January 2024 2024年1月1日之前
Date of payment: 付款日期:	After 1 January 2024 2024年1月1日之后
Goods are delivered or services are performed: 商品交付或服务履行日期:	After 1 January 2024 2024年1月1日之后

GST treatment: Even though the invoice is dated before 1 January 2024, the supply would be subject to 9% GST as both the payment are made and the goods are delivered / services are performed after 1 January 2024.

消费税处理：即使发票日期在2024年1月1日之前，如果支付和货物交付/服务履行在2024年1月1日之后，该供应将适用9%的消费税税率。

 

Scenario 2

情景 2

Date of invoice: 发票日期:	Before 1 January 2024 2024年1月1日之前
Date of payment: 付款日期:	After 1 January 2024 2024年1月1日之后
Goods are delivered or services are performed: 商品交付或服务履行日期:	Before 1 January 2024 2024年1月1日之前

GST treatment: Businesses may elect for the transitional rule and charge 8% GST on the supply as the goods are delivered / services are performed before 1 January 2024.

消费税处理：企业可以选择采用过渡规则，在货物交付/服务履行在2024年1月1日之前的情况下，对供应征收8%的消费税。

 

Scenario 3

情景 3

Date of invoice: 发票日期:	Before 1 January 2024 2024年1月1日之前
Date of payment: 付款日期:	After 1 January 2024 2024年1月1日之后
Goods are delivered or services are performed: 商品交付或服务履行日期:	80% before 1 January 2024 and 20% after 1 January 2024 80%在2024年1月1日之前 20%在2024年1月1日之后

GST treatment: Businesses may elect for the transitional rule and charge 8% GST on 80% of the supply. The balance 20% of the supply has to be charged with 9% GST.

消费税处理：企业可以选择采用过渡规则，并在其80%的供应上征收8%的消费税。剩余20%的供应必须征收9%的消费税。

 

Scenario 4

情景 4

Date of invoice: 发票日期:	After 1 January 2024 2024年1月1日之后
Date of payment: 付款日期:	After 1 January 2024 2024年1月1日之后
Goods are delivered or services are performed: 商品交付或服务履行日期:	Before 1 January 2024 2024年1月1日之前

GST treatment: Businesses may elect for the transitional rule to and charge 8% GST on the supply as the goods are delivered / services are performed before 1 January 2024.

消费税处理：企业可以选择采用过渡规则，在货物交付/服务履行在2024年1月1日之前的情况下，对供应征收8%的消费税。

 

Scenario 5

情景 5

Date of invoice: 发票日期:	After 1 January 2024 2024年1月1日之后
Date of payment: 付款日期:	After 1 January 2024 2024年1月1日之后
Goods are delivered or services are performed: 商品交付或服务履行日期:	80% before 1 January 2024 and 20% after 1 January 2024 80%在2024年1月1日之前 20%在2024年1月1日之后

GST treatment: Businesses may elect for the transitional rule and charge 8% GST on 80% of the supply. The balance 20% of the supply has to be charged with 9% GST.

消费税处理：企业可以选择采用过渡规则，在80%的供应上征收8%的消费税。剩余20%的供应必须征收9%的消费税。

 

We trust that the information above provides a concise overview of the GST rate change, transitioning from 8% to 9%, effective 1 January 2024. We hope it proves useful in ensuring the accurate application of the GST rate in your day-to-day transactions.

There may also be scenarios where both the payment is made and the goods are delivered / service are performed in part before 1 January 2024 and in part after 1 January 2024. Such scenarios are more complex and you will find detailed guidance in the IRAS’ website – e-Tax Guide on the 2024 GST Rate Change: A Guide for GST-registered Businesses and Frequently Asked Questions for Businesses – GST rate change 2024.

Should the company require our assistance to perform an analysis on the GST treatment of transactions that straddle across the GST rate change, please reach out to us. We would be pleased to assist on a separate engagement basis.

 

我们相信上述信息为2024年1月1日生效的消费税税率从8%到9%的变更提供了简洁的概要，我们希望这有助于您在日常交易中准确的应用消费税税率。

也许还会出现一些情况，其中支付和货物交付/服务履行部分发生在2024年1月1日之前，而其余部分发生在2024年1月1日之后。这样的情况更为复杂，您可以在新加坡税务局网站上找到详细的指南《2024年消费税税率变更》和 《企业常见问题 – 2024年消费税税率变更》解答中找到详细的指导。

如果公司需要我们协助分析受到消费税税率变更影响的交易的消费税处理，请随时与我们联系。我们将非常乐意为您提供帮助。

 

View the full article in PDF here.

 

CONTACT US

Tax Advisory Specialists

	Edwin Leow Co-Advisory Leader Director, Head of Tax edwinleow@sg.cla-ts.com		Jennifer Lee Associate Director, Goods & Services Tax Lead jenniferlee@sg.cla-ts.com
	Aaron Zhou 周顺 Manager, Chinese Client Tax Lead 中国客户税务主管 aaronzhou@sg.cla-ts.com