Singapore to Return $5.5M in Erroneously Collected Taxes

Singapore authorities are to refund wrongly collected goods and services tax (GST) worth $5.5 million to taxpayers from March

The ministry of finance said this in a statement issued on Wednesday.

It said the ministry found out after an internal review that 18 fees across six agencies were wrongly charged with GST.

The government agencies would refund the taxpayers based on transactions since 2019 as Singaporean laws require GST-registered entities to keep records for up to five years, said the statement.

Beyond the five-year period, agencies would make proactive refunds where records are available. 

(Xinhua/NAN)