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Singapore unveiled plans to incrementally increase the Goods and Services Tax (GST) rate—from 7% to 8% on January 1, 2023, and subsequently from 8% to 9% on January 1, 2024.
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Unless exempted, all Companies and LLPs that have not lodged their RORC information with ACRA must do so by 30 Jun 2021. Entities that fail to lodge RORC information with ACRA by this date may face a fine of up to $5,000. See below for more details.
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A late lodgement penalty will be imposed by ACRA against companies, VCCs and LLPs for the late filing of annual returns and annual declarations. See below for further details.
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