Singapore Localization Tax Codes

Singapore Localization automatically provides the following tax codes and tax types for accounts with a Singapore nexus:

Note:

The SuiteApp does not overwrite your current tax codes. Upon installation, the SuiteApp adds Singapore tax codes that do not have the same name in your account.

Tax Type	Description	Properties	Payables Account	Receivables Account
GST_SG_NC	General sales tax not entitled to recover in Singapore	Post to item cost	—	Tax on Purchases Singapore

Tax Code Name	Description	Properties
SG_BL	Purchases where GST is incurred but is specifically not claimable	Rate: 9% Tax Type: GST_SG_NC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: — Receivables Account: Tax on Purchases Singapore
SG_DS	Supplies required to be reported pursuant to the GST legislation	Rate: 9% Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_EP	Purchases specifically exempted from GST	Rate: — Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_ES33	Specific categories of exempt supplies listed under regulation 33 of the GST (General) Regulations	Rate: — Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_ESN33	Exempt supplies other than those listed under regulation 33 of the GST (General) Regulations	Rate: — Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Non-Regulation 33 Exempt Supplies
SG_IGDS	Imports where the GST is suspended until the filing date of the GST return	Rate: 9% Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_IM	GST paid to Singapore Customs on the import of goods into Singapore	Rate: 9% Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_IM-ESS	Imports of goods that are subject to GST and are directly attributable to the making of Regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_NC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: — Receivables Account: Tax on Purchases Singapore
SG_IM-N33	Imports of goods that are subject to GST and are directly attributable to the making of Non-Regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_RC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_ME	Imports where the GST payable is suspended	Rate: 0% Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Zero Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_OP	Purchases outside of the scope of GST Act	Rate: — Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_OS	Supplies outside the scope of the GST Act	Rate: — Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SRCA-C	Customer accounting supply accountable by the customer on supplier’s behalf	Rate: 9% Tax Type: GST_SG_RC Available on: Purchase transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Customer Accounting Post as Sales in IAF
SG_SRCA-S	Customer accounting supply made by the supplier	Rate: — Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Customer Accounting
SG_SRLVG	Own supply of low value goods	Rate: 9% Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SROVR-LVG	Supply of low value goods accountable by the redeliverer or electronic marketplace on behalf of third-party suppliers	Rate: 9% Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SROVR-RS	Supply of remote services accountable by the electronic marketplace under the Overseas Vendor Registration Regime	Rate: 9% Tax Type: GST_SG Available on: Sales transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SRRC	Reverse charge - Standard rate for Singapore	Rate: 9% Tax Type: GST_SG_RC Available on: Purchase transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Post as Sales in IAF
SG_TX	Purchases from GST registered suppliers that are subject to GST	Rate: 9% Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_TXCA	Standard-rated purchase of prescribed goods subject to customer accounting	Rate: 9% Tax Type: GST_SG_RC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Customer Accounting
SG_TX-ESS	Purchases from GST registered suppliers that are subject to GST and directly attributable to the making of regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_NC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: — Receivables Account: Tax on Purchases Singapore
SG_TX-N33	Purchases from GST registered suppliers that are subject to GST and directly attributable to the making of non-regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_NC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: — Receivables Account: Tax on Purchases Singapore
SG_TXRC-ESS	Imported services that are subject to reverse charge and are directly attributable to Regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_NC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: — Receivables Account: Tax on Purchases Singapore
SG_TXRC-N33	Imported services that are subject to reverse charge and are directly attributable to Non-Regulation 33 exempt supplies	Rate: 9% Tax Type: GST_SG_RC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_TXRC-TS	Imported services that are directly attributable to the making of taxable supplies (only applicable to businesses that make an election to subject all imported services to reverse charge)	Rate: 9% Tax Type: GST_SG_RC Available on: Purchases transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_ZP	Purchases from GST registered suppliers that are subject to GST at 0%	Rate: 0% Tax Type: GST_SG Available on: Purchases transactions Tax Rate Type: Zero Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore

The SuiteTax Engine provides the following tax codes for accounts with Singapore nexus:

Tax Code Name	Description	Properties
SG_NL	Not liable to tax in Singapore	Rate: — Tax Type: GST_SG Available on: Both Tax Rate Type: Exempt Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_RCS	Reverse charge for sales in Singapore	Rate: 0% Tax Type: GST_SG_RCS Available on: Sales transactions Tax Rate Type: Zero Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SR	Standard rate for Singapore	Rate: 9% Tax Type: GST_SG Available on: Both Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore
SG_SR_RC	Reverse charge – Standard rate for Singapore	Rate: 9% Tax Type: GST_SG_RC Available on: Purchase transactions Tax Rate Type: Standard Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore Post as Sales in IAF
SG_ZR	Zero rate for Singapore	Rate: 0% Tax Type: GST_SG Available on: Both Tax Rate Type: Zero Payables Account: Tax on Sales Singapore Receivables Account: Tax on Purchases Singapore

For NetSuite to calculate correct values on transaction records and tax reports, make sure that the tax codes for each nexus are set up correctly. For more information about tax codes, see Tax Code Properties and Creating Tax Codes in SuiteTax.

Singapore-Specific Tax Codes

Singapore Localization enables the support for manually created tax codes. You can enable the following tax code properties in tax codes that you manually create for Singapore:

• Post as Sales in IAF – Check this box to include transactions in the Supply Listing section of the IRAS Audit File (IAF). This field becomes available to Singapore tax codes with the following properties enabled:

  • Available on Purchases

  • Available on Both

• Customer Accounting – Check this box to identify transactions as domestic sales or purchases of prescribed goods subject to customer accounting. The responsibility for the output tax of transactions that use this tax code property shifts from the supplier to the customer. When this box is checked:

  • The Post as Sales in IAF tax code property is automatically enabled.

  • In printed documents, line items that use tax codes with this property are marked with asterisks (**) to indicate that they are subject to customer accounting.

  • The tax amount of items with asterisks are excluded in the GST amount of printed invoices or credit notes.

  • The following compliance text is added in the GST Summary table or the Item List table of credit notes and tax invoices that use this tax code:

    • The phrase "** Customer accounting: Customer to pay GST of $(Tax Amount) to IRAS" for invoice transactions.

    • The phrase "** Customer accounting: Customer to account for output tax adjustment of –$(Tax Amount)" for credit note transactions.

  Note:

  The Customer Accounting tax code property is automatically enabled for the following tax codes:

  • SG_SRCA-S

  • SG_TXCA

  • SG_SRCA-C

• Non-Regulation 33 Exempt Supplies – Check this box to identify supply items that does not fall under the Regulation 33 Exempt Supplies category of the Singapore GST F5 Return. This is automatically enabled for SG_ESN33.

Related Topic

Singapore Localization

Prerequisites for Installing the Singapore Localization SuiteApp

Installing the Singapore Localization SuiteApp

Setting Up Singapore Localization

Singapore Localization Reports

Singapore GST F5 Return

General Notices