2024 Goods and Services Tax (GST) Rate Change - Singapore

Dear Valued Customer,

As announced during Budget 2022 by the Minister for Finance, the GST rate in Singapore will be raised in 2 steps, from 7% to 8% with effect from 1 January 2023, and 8% to 9% on 1 January 2024.  

Please note that as we approach 2024, Hakko Products Pte Ltd will be charging GST according to the prevailing rate at time of payment. Payments made before 1 Jan 2024 will be charged 8% GST while payments made on or after 1 Jan 2024 will be subjected to the 9% GST rate. 

More information of the GST increase and how it affects consumers can be found on the IRAS website here. 

If you have any questions or concerns about your payment, please do not hesitate to reach out to your local sales representative or contact sales@hakko.com.sg for assistance. 

We seek your understanding and continued support. 

Yours Sincerely, 

Hakko Products Pte Ltd