Revision of GST for 2023
Last updated 16 Dec 2022
What would be changed?
The GST rate will be increased to 8% with effect from 01 Jan 2023 with accordance to the announcement made by the Singapore government. Do expect a slight increase in fees for the following chargeable items including, but not limited to:
- Recurring monthly charges, e.g., mobile, Value-Added Services (VAS), etc.
- One-time charges.
- Usage charges, e.g., voice, data, SMS, etc.
- Third-party billing charges
Revision of bill payment
You can refer to the following table for the price revisions:
|Revised rate for 2023||Current rate for 2022|
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What's the reason to revise the GST?
In Budget 2022, the Minister for Finance announced that the GST rate will be increased from:
- 7% to 8% with effect from 1 Jan 2023; and
- 8% to 9% with effect from 1 Jan 2024.
The revenue from the increase in GST will go towards supporting Singapore’s healthcare expenditure, and to take care of our seniors.
You can read IRAS’s notice on the GST Rate Change for Consumers for more information