How to setup Invoices Tax code for the Republic of Singapore?

Updated on March 8, 2018 09:08PM by Admin

Users in the Republic of Singapore can easily set up their online invoices to charge for the proper taxes.  Singapore businesses are required to charge GST taxes on all products/ services they sell. You can use our Single rate tax code calculator to make these tax rates available for use when creating invoices.

The Tax code Followed in the Republic of Singapore

The Goods and Services Tax (GST), is a value-added tax and it is composed at the rate of 7%  on all supplies of goods and services.

Reference : 

Goods and Services Tax (GST) rate of  the Republic of Singapore is referred from Wikipedia (GST SINGAPORE) Website.

Lets take a look at the following steps to understand better.

Steps to Configure Taxes on Invoices App Settings

  1. Log in and access Invoices App from your universal navigation menu bar.  
  2. Click on “More” icon and select "Settings" located in the app header bar. 
    invoice settings
  3. Click on  “Invoice” and select "Taxes" from left navigation panel. Click on “Single Rate Taxes” on taxation. 
    taxes settings 
  4. Click “Create” button to create a single rate tax. 
    create single rate tax popup 
  5. Provide the following:
    • Tax Code – Code of the tax.
    • Tax Rate Type – Select a type either fixed or percentage.
    • Tax Rate – Rate of the tax (percentage or amount). 
    • Print Label – Name of the tax.
      create single rate tax
  6. Click on “Create” button to complete.
  7. You can view the created single rate tax code in a list.
    taxes overview
  8. By default, the created single rate tax will be in enabled mode. 
  9. You can proceed creating a new invoice with the above settings. 
  10. You can either E-mail an invoice with PDF attachment or manually print invoice to the customer. 
  11. You can view the invoice Tax code items subtotals on PDF format. 
    pdf template
  12. You can capture the tax code at invoice header level and line level.

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