Residing in Singapore, you might have already felt the pinch of the rise in Singapore's Goods & Services Tax (GST) just eight days into the new year. As of January 1, 2024, the rate stands at nine percent, and we sure hope it doesn't reach double digits anytime soon. But with Singapore’s notorious streak in being the most expensive city in the world, there’s no knowing for sure.
Luckily, there are a few heroes that walk among us, and by heroes, we mean the several stores and brands that have taken the initiative to absorb the GST hike. These establishments are offering both temporary and permanent relief to consumers in hopes to ease the ever rising cost of living here in our sunny island. Read on to discover where you can shop without being affected by the GST increase.
Ikea
Until further notice
On December 21, 2023, Ikea declared that it would maintain the current prices of all its products until further notice. The Swedish brand emphasised that this decision aligns with their dedication to being an affordable, accessible, and sustainable home furnishing retailer, committed to keeping prices low for customers during times of necessity.
Decathlon
Until further notice
Decathlon is absorbing the one percent increase in GST in hopes to provide savings and value to its customers. On their official webpage, it is announced that all prices will be kept the same to ensure that sports will continuously be made accessible to the masses.
Giant
Until June 2024
Giant has joined the initiative to absorb the GST increase for 700 essential products spanning categories like fresh produce, personal care, and household essentials. The selection of categories was based on customer feedback and data. It's important to note that this arrangement is effective only until June 2024. This move is part of Giant's ongoing efforts to assist citizens in adapting to the increasing cost of living in Singapore.
Sheng Siong
Until March 31, 2024
For the initial three months of 2024, Sheng Siong is maintaining last year's prices across all products, except for certain exclusions such as infant formula (stages 1 & 2), tobacco, alcohol, medicinal products and devices, disposable carrier bag charge, phone cards, and Sheng Siong vouchers. This pricing strategy mirrors their approach when the GST increased from seven percent to eight percent last year.
Fair Price
Until June 2024
For the first six months of 2024, Fair Price is taking on the burden of the one percent GST increase. This offer applies to 500 essential goods such as national brand and housebrand items including fresh fruits, vegetables and meat, staples, dairy, paper products, detergents, and household cleaners. It will also be applicable across all Fair Price Group supermarket retail formats, including FairPrice online.
Brotherbird Bakehouse
Until further notice
Going above and beyond, Brotherbird Bakehouse is taking a remarkable step by absorbing not just one, but two percent of the GST across their entire range of products. The establishment declared that this was done to express their gratitude to the customers that have supported them thus far. "Thank you to all fans & friends who stood by us throughout all these tough times; we believe this is the least we can do for all you croissant lovers," they stated on Instagram.
Owndays
Until further notice
Japanese eyewear brand Owndays is stepping up to reduce the prices of 200 of their spectacle designs, aiming to keep prices affordable for all amidst the rising cost of living. And if that’s not lovely enough – they will also be absorbing the 1% increase in GST this year. This mirrors the approach taken when they absorbed the 1% GST hike in 2023. 200 spectacles will receive a price reduction of $20. This includes their own exclusive collections including John Dillinger, lillybell, Junni (kids range), Owndays Metal, and Owndays Plastic.
Changi Airport stores
Until further notice
A handful of stores located in the public areas across the four terminals of Changi Airport will not be increasing their GST to nine percent. All you have to do is sign up for the free Changi Rewards loyalty programme. Check out the full list of all the participating stores on their website here.
Paradise Group
Until January 26, 2024
Restaurants under the Paradise group are extending a generous offer to waive the entire additional nine percent GST charge from Monday to Friday, until January 26 only. However, to enjoy this offer you have to be either a Citi Credit or Debit Card member. The restaurants include Seafood Paradise (excluding CQ @ Clarke Quay), Beauty in The Pot, Paradise Dynasty, Canton Paradise (excluding Marina Bay Sands) and Paradise Classic (excluding One Holland Village).
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