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Rikvin Provides Singapore GST Services Registration

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									Rikvin, Singapore’s leading corporate solution provider assists entrepreneurs
in Singapore GST Service registration. GST is a tax charged on the supply of
goods and services made in Singapore and on the importation of goods into
Singapore. The current rate for GST is 7%.

According to Rikvin, “The concept of Goods and Services Tax (GST) is
patterned from Valued Added Tax (VAT) in other countries and is a new form
of tax in Singapore. GST was implemented on 1st April 1994 in Singapore. The
standard of GST Act is also patterned from the UK VAT legislation and New
Zealand GST legislation. The Inland Revenue Authority of Singapore (IRAS) is a
government agency that administers, assesses, collects and enforces payment
of GST.”

The goal of GST is to effect a lower personal and corporate income tax rates
while maintaining a fairly reasonable revenue base for the government.

A brief overview on GST – definition, registration requirements, GST returns
and GST schemes were explained in detail in the discussion.

Initially, it was discussed who can register to GST. These are Sole
proprietorships, Partnerships, Limited Liability partnerships, Companies,
Clubs, associations, management corporations or organizations, Non-profit
organizations, Statutory boards and Government bodies.

In addition, it was also discussed the reasons why there is a need to register
for GST including the privilege to claim back the GST incurred on their
business purchases, privilege to claim GST refund when GST paid exceeds GST
collected and privilege to claim GST incurred on business purchases when GST
rate increase.

Finally, Rikvin presented each of the GST schemes including GST assistance
scheme, Major Exporter scheme (MES), Licensed Warehouse scheme and Zero
GST Warehouse scheme (ZGS).

More Information:

Rikvin provides a complete corporate solution under one roof for which
includes incorporation, opening of corporate accounts, business registration,
Singapore GST service, tax, immigration related to work passes visa and
compliance services in Singapore. The firm has also helped encourage
foreigners to start and establish a business presence in Singapore.
Our office is located at Raffles Place, in the heart of the Singapore business
district. ("CBD") If you are in our neighborhood and want to discuss any aspect
of our service then feel free to come in to our offices during business hours.
Appointments are welcome but definitely not necessary.



Rikvin PTE LTD
20 Cecil Street, #14-01, Equity Plaza, Singapore 049705
Main Lines: (65) 6438 8887
Fax (65) 6438 2436
http://www.rikvin.com

								
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