GST (Goods and Services Tax)

A broad-based consumption tax functionally similar to VAT, levied at each stage of supply with input-tax credits flowing through the chain. Used in Singapore (9% from 2024), Australia (10%), New Zealand (15%), Canada (5% federal, plus provincial sales tax/HST in some provinces), India (multi-rate 5%/12%/18%/28%), and Malaysia (currently abolished, replaced by Sales and Service Tax). The principal substantive difference from VAT is naming convention: in jurisdictions that adopted the term GST, accounting and invoicing rules largely mirror VAT in EU practice. For relocators, business-registration thresholds vary widely (Australia AUD 75,000, Singapore SGD 1 million, NZ NZD 60,000) and registration is often optional below threshold but mandatory above.