The Singapore government has announced an update in the GST rate from 7% to 8% on 1st January 2023 and 8% to 9% on 1st January 2024. In preparation of this, TenderBoard has updated its tax functionality to allow for submission of purchases with different tax rates.

This article will brief you on the changes to TenderBoard to ensure that you're able to award deals and generate Purchase Orders with the correct tax rates.

Awarding a quotation with different tax rates

During the transition period, you or your suppliers will be able to submit quotation at 8%, 7% or 0% rates around 2022/2023, and 9%, 8% or 0% rates around 2023/2024. Please ensure that the correct rate is used in accordance with IRAS guidance, which can be found here. 

Supplier-submitted quotations

Your suppliers will need to submit the quotations with the correct tax rates in order to To guide your suppliers on how to submit their quotations with different tax rates, you may direct them to this help page: What happens if I am submitting a quotation with different tax rates?

Self-submitted quotations

When submitting your own quotation, you will be able to update the tax rate accordingly. Please ensure that the correct tax rate is updated for each item

The tax rates will be named as follows:

Tax Rate202220232024
Zero rateZero rateZero rate
7%Standard rate2022 tax rate*-
8%2023 tax rateStandard rate2023 tax rate
2024 tax rate*Standard rate

Note that 2022 tax rate and 2024 tax rates will only be available for a transitionary period

What should I do if the quotation was submitted with the wrong tax rate?

- If your supplier has submitted the quotation, you will need to issue them a resubmission request in order for them to update the quotation.

- If you have submitted the quotation, you will need to restart the purchase request in order to submit the quotation again.

What happens if my quotation was issued at the wrong tax rate, or my delivery was delayed and the tax rate increases?

In the event that your Purchase Order is already submitted with the wrong tax rate (for instance, you had assumed delivery in 2022 but the delivery ended up in 2023 instead), you will need to update the tax rate at the invoice submission. You will be asked to provide a reason in the event that the tax rate differs from what was originally submitted.