MS Explains: Chances are you are paying more personal income tax than you need to. Here's how you can use tax deductions and reliefs to reduce your tax, and in some cases, deduct it away completely.
So, your Taobao phone cases and shoes from Amazon are going to be slapped with a Goods and Services Tax (GST) from 2023.
This announcement came just after the GST was extended to imported digital services (like Spotify and Netflix s streaming services) in January 2020.
Finance Minister Heng Swee Keat said in his 2021 Budget speech that these changes would ensure a level playing field for our local businesses to compete effectively .
All good, but people in Singapore have been shopping online for a while now. So, why did it take so long to levy GST on these low-value imports?
There are certain difficulties that come with taxing suppliers