Tourist Information

Tax Matters

ADVISORY ON THE TAX SYSTEM IN SINGAPORE

The Government of Singapore has imposed a tax scheme known as the Goods & Services Tax (GST), which is pegged at a rate of 7% of a product’s price. The GST applies to all goods imported into Singapore. Travellers who are not holders of a work permit, employment pass, student pass, dependent pass or long-term pass, will be given a GST refund on new articles, souvenirs, gifts and food preparations excluding intoxicating liquors and tobacco.

All tourist shoppers who leave Singapore via Changi International Airport or Seletar Airport may be eligible for GST refund on goods purchased under the Tourist Refund Scheme (TRS). Tourist shoppers are advised to make the tax refund prior to leaving the country through an application to be made to the Singapore Customs with an endorsement. Application forms can be requested from the shop retailer. Tourists are advised to ask the retailer if they are participating in the TRS prior to their purchase if they wish to claim the GST refund.

For clarification on tax refunds, please call the Singapore tourist hotline at 1800 736 2000.

Money Matters

money-changer

Money Changers

Banks usually remain open from Mondays to Fridays from 9.30am to 3pm. Some banks may also open on Sundays. Do check your bank’s website for the most updated operating hours. Automated Teller Machines (ATMs) are available 24-hour. They are located at banks, shopping centres, petrol stations, convenience stores and MRT stations. If you want to check if the ATM allows you to draw from a foreign bank account, look out for the PLUS and CIRRUS signs on the machine.

bank-atm

Banks & ATMs

Banks usually remain open from Monday to Friday from 9.30am to 3pm. Some banks may also open on Sundays. Do check your bank’s website for the most updated operating hours. Automated Teller Machines (ATMs) are available 24-hour. They are located at banks, shopping centres, petrol stations, convenience stores and MRT stations. If you want to check if the ATM allows you to draw from a foreign bank account, look out for the PLUS and CIRRUS signs on the machine.

credit-cards

Credit Cards / Charge Cards

Most stores in Singapore accept major credit cards such as VISA and Mastercard, at no extra surcharge.

gst

Taxes

Most retails outlets charge the prevailing GST (Goods and Service Tax) on purchases. Most restaurants, hotels and F&B outlets quote prices with “+” or “++”. “++” refers to a 10% service charge and 7% GST. Tourists may be entitled to a GST refund under certain conditions. Please call the tourist hotline at 1800 736 2000 to enquire.

tipping

Tipping

Tipping is not a common practice in Singapore, as most hotels and restaurants include a 10% service charge in the final bill. While tipping is not expected, it is appreciated, be it in restaurants where there is no service charge, or anywhere where excellent service is encountered.