Singapore Extended OVR RegimeLearn how to manage Singapore's GST scheme.
Zonos software will handle Singapore GST threshold monitoring and collection. If you pass the thresholds and are required to register, you can either register for your own GST number or have Zonos remit on your behalf.
Zonos will collect and remit on your behalf
If you meet the registration thresholds but don't want the hassle of registering and remitting, Zonos Landed Cost guarantee is a good option for you. This white-glove service ensures landed cost accuracy for every international sale. It will also manage Singapore's Extended OVR Regime by taking care of everything for you, including registration, reconciliation, reporting, and remittance.
Note: If you use the Zonos Landed Cost guarantee service you must use the consignment value to assess low-value on all orders into Singapore.
Collect and remit using your own GST number
Singapore GST Dashboard Settings
To begin collecting, you must first register if you plan on remitting under your own Singapore GST number. In Dashboard Settings, you can follow the instructions to enter your Singapore OVR number into Dashboard and choose which option you would like to use to determine what is considered low-value when calculating GST. Dashboard allows you to choose from the following values:
- Item sales value
- Consignment value
Be sure to do the following:
- Issue GST invoices. Dashboard can help you issue and reissue GST invoices and will auto-populate your GST number once you have it.
- Remit the collected GST quarterly to IRAS through your account on their website.
Note: Zonos Landed Cost products will collect Singapore GST on low-value orders for you, which can be turned on in Dashboard. Dashboard makes running GST reports easy, so you know how much to remit each quarter.
Failure to register and pay GST in Singapore is tax evasion. Penalties may apply for noncompliance. Zonos' Landed Cost Guarantee helps you stay compliant with Singapore's Extended OVR Regime so you don't have to worry.