Singapore imposes least burden in VAT, GST compliance: study

Singapore

SINGAPORE came out tops in a latest study by UNSW Sydney and KPMG that considered the compliance requirements and administrative burden associated with adhering to Value Added Tax (VAT) and Goods and Services Tax (GST) rules.

Launched last September, the research concluded that 14 countries out of 47 jurisdictions around the world scored favourably with a compliance burden index of four or less, while 15 countries were rated with a score of six or more, suggesting the need for policy reforms in those locations.