More GST Relief Upon Returning From Overseas
Do you like traveling? Do you like shopping? Do you like shopping overseas? Many Singaporeans would answer yes to these questions. However, one must be very careful about the price of goods you bought from overseas. Currently, Singaporeans coming back from overseas can only get Goods and Services Tax (GST) relief for goods valued at S$300. Meanwhile, there is also an age criteria for the GST relief. With the limitations of claiming GST relief, many people would think twice before they purchase things overseas.
From the 1st of April onward, Singaporeans who are coming back from overseas tourist trips will pay lower GST, according to Singapore Customs. According to its media release, Singaporeans who spent more than two days abroad will get GST relief for goods valued up to $600. Those who were overseas for less than two days will get GST relief for goods that are valued up to $S150. In addition, the age criteria for GST relief will also be removed. This means that the amount will no longer depend on the age of a particular traveler but only on the time that he or she spends overseas.
This new GST relief will apply to all travelers, including children. However, it is not including permit holders and crew members. All goods brought into Singapore are subject to GST of seven percent, with the exception of liquor, tobacco products, petroleum and goods imported for commercial purposes.
Many travel agents are happy for this change of the GST relief from Singapore customs. Even children can get the GST relief for goods valued up to $600 will be more attractive to Singaporeans who love shopping overseas. More relief for goods from overseas is definitely a good news.