[Verdict] CDG cabbies need not accept VISA from June 2013
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the reason singapore is safe is because most human n vehicle got id - i.c no. n vehicle plate no. it has slowly indirectly become a source of info to be track n tax..
hawker stall not that many n cater to mainly low end humans, ( take it as do charity)
hdb room hard to track, ( not dun want to levy tax n gst, a lot of $ u know )..
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Originally posted by Techo:
If cdg paid for the cashless eqpt installed in their cabs, isn't it reasonable for them to recoup the capital outlay, defray admin expenses and make some profit?
if they want to recoup the investment of the equipments, they should play with the taxi rental and not the surcharge of paying by credit cards.
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Originally posted by Terry Young:
the only way we can charge gst is if our business earns over 1 million a year then we can apply iras, if i remember correctly.
just cos visa drop don't mean mastercard will drop. amex definitely won't, cards used mostly corporate cards. transactions between visa and amex sometime can fight.
Businesses that do not exceed $1mil in taxable turnover may register for GST voluntarily.
http://www.iras.gov.sg/irashome/page.aspx?id=1780
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Originally posted by Rbs70:
GST is a tax impose by our goberment......
is not to apply, is a MUST to registered your company with iras if your annual turnover is $1mil for consecutive 3 years.......
you earn money goberment will suck......
fail to register consequences very severe......
It is compulsory for businesses to come forward to register for GST when their taxable turnover exceeds $1mil per year.
http://www.iras.gov.sg/irashome/page.aspx?id=1780
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Originally posted by Singtaxi:
if they want to recoup the investment of the equipments, they should play with the taxi rental and not the surcharge of paying by credit cards.
time to up rental again....
or pok more old hirrer....
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Taxi drivers is the most bo hua.. because taxi drivers are merely doing a free service for them, just like ERP .. taxi drivers did not get to earn the erp charges, taxi drivers is just foing a service for the gov to collect on their behalf, it's the same for all the cards, taxi drivers had to do all those ting ting dong dong thingy printout recipe , but no commission to earn for doing these things, company and banks earn liao liao, TD sibey bo hua..
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Originally posted by Red5xx:
time to up rental again....
or pok more old hirrer....
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Originally posted by bowah:
But most companies have millions of revenue turnover every years, so if you are driving for them, you are representing them in a way, and moreover, they are charging you GST for the rental, so how come you, (some wearing CDG shirt somemore) in the capacity of cdg, TC or any other companies cannot charge the pax to defray the GST?
Hawker rent stall from town council, no GST leh, so they can sell without GST, you rent or lent out a room also no charge GST mah, so how come TD have to aborb the GST, and as rental of taxis get higher, GST certainly goes higher?
Just a food for thought
GST suppose to work in a loop, is neither a profit to a merchants nor consumers........
Simple layman term, CDG charge 7% GST on taxi rental to TD because they are GST registered, if TD is GST registered also which sound impossible, of course they could claim back the GST, but is impossible, just like as a consumers we buy things or eat at restaurant, also cannot claim back right? So TD classify as consumers........
CDG is a merchant, they import goods like accessory, vehicle....etc, so they could claim back GST by submitting to iras to complete the loop, as for the GST collected from taxi rental, they had to declare back to the iras.........
It may sound complicated, that's why small enterprise usually don't registered GST, because very lay chek........
This is what I learn from school.......
"It is compulsory for businesses to come forward to register for GST when their taxable turnover exceeds $1mil per year. Businesses that do not exceed $1mil in taxable turnover may register for GST voluntarily.
After registration, businesses must charge GST at the prevailing rate. This GST that they charge and collect is known as output tax, which has to be paid to IRAS. GST incurred on business purchases and expenses (including import of goods) are known as input tax. Businesses can claim input tax if conditions for claiming are satisfied. This credit mechanism ensures that only the value added is taxed at each stage of a supply chain."
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Originally posted by Rbs70:
GST is a tax impose by our goberment......
is not to apply, is a MUST to registered your company with iras if your annual turnover is $1mil for consecutive 3 years.......
you earn money goberment will suck......
fail to register consequences very severe......
over 1m must register gst.
under 1m, you can choose to register gst.