Duty & Tax
Import duty and tax guide.
Singapore's Goods and Services Tax (GST) rate will increase in 2024
Message last updated on 01 Dec 2023
From 1 January 2024, IRAS announced that the GST rate will change from the current 8% to 9% and this rate will apply to all goods imported via all freight modes to Singapore.
For more details, you may refer to IRAS website here.
Goods and Services Tax (GST)
According to the Government of Singapore, there is a Goods and Services Tax (GST) for most of the goods which includes goods imported to Singapore via online shopping.
8% on the total value will be charged for all goods and services. The cost, insurance and freight (CIF) plus other chargeable costs and the duty payable will be included in the calculation of GST.
GST on Imports of Low Value Goods
From 1 January 2023, GST will apply to imported low-value goods purchased by consumers in Singapore from non-GST registered overseas suppliers/sellers. You will need to pay GST on goods valued at S$400 or below (“low-value goods”), which are imported into Singapore via air or post (“imported low-value goods”).
There is no change to the GST treatment for goods imported via sea or land as well as goods valued above S$400 which are imported via air or post. You will need to pay GST at the point of importation of such goods.
What is CIF?
CIF refers to the Cost of the imported goods, the cost of Insurance (vCare), and the cost of Freight.
In general, most of the import duties and taxes payable are calculated on the sum of the CIF and the landing charges.
Shipment with a value of above S$400
If your shipment’s CIF value exceeds S$400, you will be required to pay the GST of the whole shipment.