As announced during Budget 2022 by the Minister for Finance, the GST rate in Singapore will increase from the current 7% to 8% with effect from 1 January 2023.
Tokimeku will be charging GST according to the prevailing rate at time of payment. Payments made before 1 Jan 2023 will be charged 7% GST while payments made on or after 1 Jan 2023 will be subjected to the 8% GST rate.
More information on the GST increase and how it affects consumers can be found on the IRAS website here. If you have any questions or concerns, please do not hesitate to reach out to your local sales representative or contact firstname.lastname@example.org for assistance.
We seek your understanding and continued support.
Tokimeku Pte Ltd