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GST Assistance Scheme for SMEs |
How can I prepare my business for a GST Rate implementation and Change?
“Raise the GST rate to 7% with effect from 1 July 2007” announced by Second Minister for Finance, Mr Tharman Shanmugaratnam in his budget speech on 15th February 2007.
Enterprises with annual turnover of S$1 million are liable to register for GST. However, you may choose to apply for voluntary registration if your annual turnover is less than S$1 million.
SPRING Singapore has a GST Assistance Scheme for SMEs who opt for voluntary GST registration. The funding is up to 50% of the qualifying costs, subject to a maximum grant of $5,000. Your business qualifies as long as:
• Your business is incorporated in Singapore
• Your fixed assets are worth up to S$15M*
• You have up to 200 employees (for non-manufacturing companies)*
• You have previously not registered as a GST trader before
• You are approved as a voluntary GST registrant from 1 March 2007 to 30 Jun 2009
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AAP R/4(R) - Accounting System (Windows Vista Ready) |
| AAP R/4(R) accounting software is specifically designed for businesses that require sophisticated accounting features to facilitate complex business adaptabilities. AAP R/4(R) is uniquely developed to be comprehensive and easy to use; the user does not require hefty accounting experience to master the system. |
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