14-2-2024 (SINGAPORE) Singaporean authorities announced plans to reimburse taxpayers for erroneously collected goods and services tax (GST) amounting to 7.5 million Singapore dollars (5.5 million U.S. dollars) starting from March, as per a statement released by the Ministry of Finance on Wednesday.
Following an internal review, the ministry identified 18 fees across six government agencies that had been inaccurately subjected to GST charges.
The reimbursement process will cover transactions dating back to 2019, aligning with Singaporean laws mandating GST-registered entities to maintain records for up to five years, the statement outlined.
Moreover, agencies will initiate proactive refunds for eligible cases beyond the stipulated five-year period, provided relevant records are accessible.
