Singapore's GST rate change for consumers

Source: https://www.iras.gov.sg/taxes/goods-services-tax-(gst)/gst-rate-change/gst-rate-change-for-consumers1


Update by Gevme

In view of GST Change, on Events and Event Templates with:

  1. Event Address or Event venue has the text Singapore
  2. Event has Tax enabled and Tax Name is GST and Tax Value is 8
  3. Event End date/time > 23:59 (SGT) 31 Dec 2024 or event is set as continuous


  • Gevme will run an update applicable to all events satisfying the above criteria at 00:00 (SGT) on 1 Jan 2024.
  • Events with GST set at 8% will be updated to 9%.
  • The new GST amount will apply only to transactions created from 1 Jan 2024, 00:00 (SGT).
  • Previously completed orders will not be affected by the new GST.



FAQ: 

No.QuestionsSuggestions

1
I wish to absorb the GST difference for my event
For tax type, you may consider using the Inclusive option

Do set this up before you publish your event for registration.
Once there are orders created, the tax type is not editable.

2
An order was created before 1 Jan 2024 and it is charged 8% GST.

The attendee has not made payment yet. How do I update the Tax to 9% GST?
For any pending payment, Gevme suggests:
1. Cancelling the order and,
2. Re-registering so that the new invoice can be generated with the new tax rate.

Reference:
IRAS e-Tax Guide
Adjustment of Contracts on Changes in Tax (Item 10, Page 36)

Useful Tool:
To consider setting up a Retention Time for Pending Order. All the pending orders will be cancelled at a set time and the tickets will be auto-release for registration.


3
The order was made and paid successfully before 1 Jan 2024. 8% GST was applied.

I need to make a refund after 1 Jan 2023 applying the same 8% GST.


For this order,
- The registration fee was paid with 8% GST; hence, the refund is to process with 8% GST.
- For events with tax change, you will find a dropdown of different tax rate under New Transaction (Refund, Credit) and will be able to select the relevant tax rate for your transactions.

Illustration:
Reference:IRAS e-Tax Guide
Returned Goods (Item 11.10, Page 38)


4
In this order, I have multi-transactions.
- Some are fully paid before 1 Jan 2024 and
- Some are paid after 1 Jan 2024 with the new GST

I need to make a refund for this order.
Refer to No.3 to create refund transactions for your orders.
In this case, we suggest creating different refund transactions for different payments collected.

- 1st refund transaction for amount paid before 1 Jan 2024 - GST @ 8%
- 2nd refund transaction for amount paid after 1 Jan 2024 - GST @ 9%


5
My company has events with registrations started in 2023.
- Event is a continuous event
- Event is happening in 2024

Can we take this approach:
- Existing event with Tax set as GST 8%, we will set an end date as 31 Dec 2023, 23:59
- New event with Tax set as GST 9%, we will set start date as 1 Jan 2024, 00:00

Is there any implication?


This is a possible approach as well.
Your Finance then can reconcile with the relevant Tax Rate for each event.

When creating the New event, we suggest cloning it from the existing event to ensure that the event details, tickets, fields in the forms, email templates are consistent in the 2 events.


For further clarification, please reach out to us at cs.reg@gevme.com.