Singapore Country Commercial Guide
Learn about the market conditions, opportunities, regulations, and business conditions in singapore, prepared by at U.S. Embassies worldwide by Commerce Department, State Department and other U.S. agencies’ professionals
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Selling Factors and Techniques
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Price, quality, and service are key factors influencing sales in Singapore. Exporters looking to enter this market need to be aware of the fierce competition, which includes global rivals. Buyers expect not just high-quality products, but also excellent after-sales service. While selling techniques can differ based on industry or product, they generally align with those found in other advanced markets. 

In Singapore, the Goods and Services Tax (GST) is a broad-based consumption tax that applies to nearly all goods and services. The standard GST rate is currently set at 9%. This tax also applies to imported goods and services. Customers pay GST whenever they purchase taxable goods or services from businesses that are registered for GST. The GST collected by these businesses (output tax) must be paid to the Inland Revenue Authority of Singapore (IRAS), while the tax incurred on their own purchases or imports is referred to as input tax.  

Businesses can reclaim any input tax that exceeds their output tax. GST is applicable when the supply is made within Singapore. It is also applicable when the supply is taxable, the supply is made by a taxable person, and it is made in the course of a business operation carried out by the taxable person. Certain items, such as international services and exports, enjoy a zero rate of GST. Exemptions also include various financial services, residential property sales and leases, and the import of precious metals like gold and silver.

GST-registered businesses are required to submit periodic returns detailing their taxable supplies and inputs, typically on a monthly basis. Payments for GST liabilities must be made by the submission deadline, and tax invoices must be issued to GST-registered customers within 30 days of the transaction, except for zero-rated or exempt supplies. There are ample opportunities for sales in Singapore through local exhibitions, conferences, and business associations. Lists of relevant exhibitions and conferences can be found through various local sources.

  • A list of the principal business associations that accept U.S. companies as members may be found below.  All provide feedback from their members to the government.
     
  • The American Chamber of Commerce in Singapore (Amcham) is dedicated to advocating for business interests and providing valuable insights and connections within the community.
     
  • The US-ASEAN Business Council conducts research across the ten ASEAN countries, including Singapore, focusing on various economic, financial and social conditions.
     
  • The Singapore Business Federation serves as the apex chamber of commerce, facilitating communication and collaboration between the business community and the government.
     
  • The Singapore International Chamber of Commerce (SICC) promotes fair trade and responsible business practices.


The International Trade Administration supports U.S. companies entering and growing in new markets, offering various services, including the Business Service Providers (BSP) list, the Featured U.S. Exporter Service (FUSE), and the Single Company Promotion (SCP) service.  

According to the 2024 Transparency International Corruption Perceptions Index, Singapore remains one of the least corrupt countries globally, ranking third out of 180 countries—a significant achievement that underscores its commitment to maintaining integrity in business practices.

Local Professional Services

Legal Services: A list of service providers can be found at The Law Society of Singapore website. Accounting and Tax Services: A list of service providers in accountancy, finance and business can be found at the Institute of Singapore Chartered Accountants website.

Limitations on Selling U.S. Products and Services

The business limitations are confined primarily to professional services such as the legal, accounting and tax services, and engineering and architectural services. Details can be found in the “Investment Climate Statement.”

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Global Business Navigator Chatbot Beta

Welcome to the Global Business Navigator, an artificial intelligence (AI) Chatbot from the International Trade Administration (ITA). This tool, currently in beta version testing, is designed to provide general information on the exporting process and the resources available to assist new and experienced U.S. exporters. The Chatbot, developed using Microsoft’s Azure AI services, is trained on ITA’s export-related content and aims to quickly get users the information they need. The Chatbot is intended to make the benefits of exporting more accessible by understanding non-expert language, idiomatic expressions, and foreign languages.

Limitations

As a beta product, the Chatbot is currently being tested and its responses may occasionally produce inaccurate or incomplete information. The Chatbot is trained to decline out of scope or inappropriate requests. The Chatbot’s knowledge is limited to the public information on the Export Solutions web pages of Trade.gov, which covers a wide range of topics on exporting. While it cannot provide responses specific to a company’s product or a specific foreign market, its reference pages will guide you to other relevant government resources and market research. Always double-check the Chatbot’s responses using the provided references or by visiting the Export Solutions web pages on Trade.gov. Do not use its responses as legal or professional advice. Inaccurate advice from the Chatbot would not be a defense to violating any export rules or regulations.

Privacy

The Chatbot does not collect information about users and does not use the contents of users’ chat history to learn new information. All feedback is anonymous. Please do not enter personally identifiable information (PII), sensitive, or proprietary information into the Chatbot. Your conversations will not be connected to other interactions or accounts with ITA. Conversations with the Chatbot may be reviewed to help ITA improve the tool and address harmful, illegal, or otherwise inappropriate questions.

Translation

The Chatbot supports a wide range of languages. Because the Chatbot is trained in English and responses are translated, you should verify the translation. For example, the Chatbot may have difficulty with acronyms, abbreviations, and nuances in a language other than English.

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