Singapore to Refund S$7.5 Million in Wrongly Charged GST
The refunds, including interest, will cover GST erroneously levied on 18 government fees over the past five years.
- Six Singapore government agencies will refund approximately S$7.5 million (US$5.5 million) in GST wrongly charged over the last five years.
- The refunds, including interest, are for GST erroneously levied on 18 different government fees affecting both individuals and businesses.
- Affected agencies include the Housing and Development Board, Land Transport Authority, and Urban Redevelopment Authority among others.
- The Ministry of Finance discovered the inconsistencies last November during an internal review and has since ceased the wrongful GST charges.
- Legislative amendments to the GST Act are planned to prevent future errors and clarify the treatment of GST for regulatory fees.