ONLINE BUSINESS HELP! TAX QUESTUION!
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Hello,
I have noticed that there is an increasing trend of online shops in Singapore where people import goods from oversea and sell them in Sg in small quantity over the net.
I am interested to sell some computers USB products using online store also.
(100 pcs, total value SGD $500)
I have a supplier willing to ship the item over to Singapore using EMS doorstep courier service.
May I know if such a small quantity is required to declare and pay tax or register business or whatsoever?
Is such doing illegal in Singapore in anyway?
Please help!..
Helpless,
New Online Store -
upz.............
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How much is your small quantity?
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Quantity : 100pcs
Total value: Less than SGD $ 500 -
me also wan to know .
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It will only become illegal if you get caught.
Any income derived from within the territory of Singapore is subjected to taxes. (Even tuition income and babysitting income.) -
(sgbusiness)
I have noticed that there is an increasing trend of online shops in Singapore where people import goods from oversea and sell them in Sg in small quantity over the net.
if you can, pls give me some links so that i can visit their stores for reference and personal learning / knowledge.
thanks!I am interested to sell some computers USB products using online store also. (100 pcs, total value SGD $500)
u just pay whatever courier fees and shipping taxes that are needed by the courier company.
I have a supplier willing to ship the item over to Singapore using EMS doorstep courier service.
as long as you don't register the business and just open an online shop selling items and ship them (like how teenage girls sell jewellery online), you don't have to pay taxes.
for example, if i import Japanese AV DVDs into SG and sell them online, then i just pay the shipping costs etc. and charge accordingly to my customers. -
Are you sure about it or just your personal thinking? LOLOriginally posted by Nikar2:(sgbusiness)
u just pay whatever courier fees and shipping taxes that are needed by the courier company.
as long as you don't register the business and just open an online shop selling items and ship them (like how teenage girls sell jewellery online), you don't have to pay taxes.
for example, if i import Japanese AV DVDs into SG and sell them online, then i just pay the shipping costs etc. and charge accordingly to my customers. -
i dont think need to pay taxes lei. i agree with what they said,just pay for the shipping or whatever.than sell lor.
even pasar malam just pay rent what not taxes for the things they sell.
from the best of my knowledge la,is no need. only registered companies with pte ltd all these need la. my 2cents. -
LOl thanks all for the reply..
Because just wanna make sure.
Dont wana get into a legal lawsuit becasue of this.
Cause scare that competitors sabotage us(online store) -
(sgbusiness)
Are you sure about it or just your personal thinking? LOL
well, i've learn quite a lot about eCommerce for the past 9 years or so....it's only logical for your case....just think about it.
besides, unless your business grows to become some multi-million company, the gahmen won't give a darn to your business.
what u should do is to run your web business, but do it as an individual, like a past time hobby.
think of it as a man who's an accounts executive in his day job and he sells cookies on weekends....does this man need to pay taxes for his cookie selling venture? NO!!!!!! hope u get the idea.
just run your venture professionally.
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Thank you for your precious comment! learnt alot.. haha.. appreciateOriginally posted by Nikar2:(sgbusiness)
well, i've learn quite a lot about eCommerce for the past 9 years or so....it's only logical for your case....just think about it.
besides, unless your business grows to become some multi-million company, the gahmen won't give a darn to your business.
what u should do is to run your web business, but do it as an individual, like a past time hobby.
think of it as a man who's an accounts executive in his day job and he sells cookies on weekends....does this man need to pay taxes for his cookie selling venture? NO!!!!!! hope u get the idea.
just run your venture professionally.