Our VAT calculator for Singapore is the perfect tool to simplify your financial life. No more confusing calculations or tax time stress. Just enter your information and our calculator will do the rest. Complete all VAT calculations you need, all in one place!
The current standard VAT rate in Singapore is 9%. So for every S$100 of goods or services sold, S$9 is added as VAT. While it’s similar to sales tax, which is charged to the consumer at the point of purchase, VAT is applied at each stage of the supply chain so that it accurately reflects its total value.
Manufacturers, wholesalers, and retailers all add VAT to the price of their goods which are then purchased by the consumer. This ensures that the total value added to a product is taxed and reflected in the final price the consumer pays.
You can calculate VAT in Singapore using either a VAT calculator or with manual VAT calculation formulas. Let’s explore both methods and the advantages of each.
This is the basic formula for manually calculating VAT:
VAT = Net Price x (VAT Rate / 100)
Net Price is the cost of the goods before VAT is added. The VAT rate is the percentage of VAT applied, which in Singapore is 9%.
So for example, if a product has a net price of S$100, the VAT calculation formula would be:
S$100 * (9 / 100) = S$9
Do you have a product whose price already includes VAT? To find the original price (without VAT), use this VAT-exclusive calculation:
Ex-VAT Price = VAT-Inclusive Price / (1 + VAT Rate)
For example, if a product costs S$110 (including VAT), and the VAT rate is 9%, you can calculate the ex-VAT price as follows:
Ex-VAT Price = S$110 / (1 + 0.09 = S$100.92
This means the original price of the product before VAT was added was SGD 100.92.
It's beneficial to have a good grasp of how VAT works and how it affects your finances. Understanding VAT helps you make informed financial decisions, ensure tax compliance, and avoid costly penalties. But if you're looking for a quick and easy way, our VAT calculator for Singapore is the solution! Our calculator provides precise calculations, saves you time, and offers complete convenience.
Singapore's VAT rate was increased by 1% in January 2024, from 8% to 9%. This is similar to Singapore’s common trading partners. Malaysia has a VAT rate of 8%, followed by Singapore at 10%, then Indonesia at 11%, and finally China at 13%.
