Singapore to Impose GST on Low-Value Imports
Singapore recently extended its goods and services tax to cover certain low-value imports, the Hong Kong Trade Development Council reported Dec. 7. The tax, effective Jan. 1, 2023, will apply to items imported through post or air and worth less…
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than $296, the report said. The country will penalize noncompliant overseas traders and vendors, HKTDC said. Singapore joins the European Union, Australia, New Zealand, Norway, the United Kingdom and Switzerland in imposing GST on low-value goods.