Region
Singapore GST,
the whole region billed.
Pick Singapore and Vinance sets 9% GST, the Singapore dollar, and a GST F5 return built from your ledger, while multi-currency lets you invoice across Southeast Asia in local currency.
Singapore GST, set up right
9% GST, and an IRAS-shaped return.
Choose the Singapore profile and Vinance sets the Singapore dollar as your base currency and applies 9% GST, the rate that took effect on 1 January 2024, to every standard-rated supply. Your GST registration number sits on the tax invoice, exports and international services are carried at 0%, and exempt supplies such as most financial services and residential property are treated as exempt. Reverse charge on imported services is handled where it applies.
- Singapore dollar as your base currency, formatted correctly
- 9% standard GST applied to every taxable supply automatically
- Zero-rated exports and international services, and exempt supplies
- Reverse charge on imported services where it applies
TAX INVOICE 1042
S$46,000 net plus 9% GST, the rate in force since 1 January 2024. The tax invoice carries your GST registration number.
One base, the whole region
Trade across Southeast Asia in local currency.
A Singapore business rarely stays in one currency. Bill a customer in Thai baht, Malaysian ringgit, Indonesian rupiah, Philippine peso, or Vietnamese dong, and Vinance records both the foreign amount and its value in Singapore dollars at the day's rate, then revalues open balances at period end. Your accounts stay in one base currency while each customer sees the currency they expect. When you invoice into a market with its own indirect tax, such as Thailand's 7% VAT, you can set that rate on the document.
- Invoice and bill in baht, ringgit, rupiah, peso, dong, and more
- Foreign amount and SGD value both recorded, at the day's rate
- Open balances revalued automatically at period end
- Custom tax rates for regional markets you sell into
INVOICE 1067
Sell across the region in baht, ringgit, rupiah, peso, or dong. Vinance keeps the foreign amount and its SGD value, and revalues open balances at period end.
Filing, not arithmetic
The GST F5, built from your ledger.
Because every taxed line posts to the books, your quarterly GST F5 return is a live report, not a spreadsheet you rebuild each period. Vinance lays it out box by box, standard-rated supplies, zero-rated supplies, output tax, and input tax claimed, netting to the GST payable or refundable, with the transactions behind each box. InvoiceNow, Singapore's Peppol-based national e-invoicing network run by IMDA, is rolling out for GST-registered businesses; Vinance builds invoices with the structured fields that flow uses, and direct InvoiceNow transmission is planned.
- The GST F5 laid out box by box, netted to what you owe
- Zero-rated and exempt supplies kept in their own boxes
- Drill from any box to the invoices and bills behind it
- InvoiceNow (Peppol) structured fields captured; transmission planned
What the profile configures
Everything the Singapore & SEA profile sets up.
Turn it on once, and these follow through sales, purchases, and reports for the whole company.
Singapore dollar (SGD)
Base currency set to the Singapore dollar, with the right symbol and formatting on every document and report.
9% GST
The standard rate in force since 1 January 2024, applied automatically to every standard-rated supply.
Zero-rated & exempt
Exports and international services at 0%, plus exempt treatment for most financial services and residential property.
Reverse charge
Reverse charge on imported services handled where it applies, captured on the return.
Regional currencies
Invoice in baht, ringgit, rupiah, peso, or dong, with SGD kept as your single base and FX revalued at period end.
GST F5 & InvoiceNow fields
A live F5 return built box by box, with invoices carrying the structured fields InvoiceNow (Peppol) uses.
Frequently asked questions
What GST rate does the Singapore profile use?
9%, the standard rate in force since 1 January 2024. Vinance applies it to every standard-rated supply and keeps zero-rated exports and exempt supplies in their own treatments.
Does Vinance produce the IRAS GST F5 return?
Yes. Because every taxed line posts to the ledger, Vinance lays out the GST F5 box by box, standard-rated and zero-rated supplies, output tax and input tax claimed, netted to the GST payable or refundable, with the transactions behind each box.
Can I invoice customers in other Southeast Asian currencies?
Yes. Bill in Thai baht, Malaysian ringgit, Indonesian rupiah, Philippine peso, or Vietnamese dong while your accounts stay in Singapore dollars; Vinance records the rate and revalues open balances at period end. See multi-currency & tax.
Does Vinance support InvoiceNow e-invoicing?
Vinance builds invoices with the structured fields InvoiceNow, Singapore's Peppol-based national network, uses. Direct transmission over the InvoiceNow network is planned.
Does Vinance handle GST for the rest of Southeast Asia?
The shipped region profile is Singapore GST. For other markets you sell into, such as Thailand's 7% VAT, you can set the applicable tax rate on the invoice, so the document is correct while your books stay in one base currency.
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