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Singapore Budget 2019: Singapore to tighten GST import relief, alcohol duty-free concession
SINGAPORE will tighten the goods and services (GST) import relief and the alcohol duty-free concession for travellers, Finance Minister Heng Swee Keat said in Parliament on Monday.
The value of goods bought overseas that can enjoy GST relief will be reduced to S$100 from S$150, for travellers who spend less than 48 hours outside Singapore. For those who spend 48 hours or more outside Singapore, the relief quantum will be reduced to S$500 from S$600. This will take effect for travellers arriving in Singapore from 12.00am, Feb 19, 2019.
The alcohol duty-free concession for travellers will be reduced to two litres, from three litres, effective April 1, 2019.
"A fairer and more robust approach is to meet recurrent spending with recurrent revenues," Mr Heng said, emphasizing the need to continually review the tax system to ensure its resilience amidst rising international travel.
GST is a broad-based tax that contributes significantly to Singapore's fiscal resources.
For all of our Singapore Budget 2019 coverage, news, analysis, and infographics visit bt.sg/budget19