More than 100 overseas digital service providers have registered for GST under Singapore’s Overseas Vendor Registration (OVR) regime, and will be charging GST on their sales of digital services to Singapore consumers with effect from 1 Jan 2020.
Currently, only locally procured services are subject to GST, while services procured from overseas are not. Announced in the 2018 Budget Statement, the OVR regime is intended to achieve a level playing field in GST treatment for services, whether procured locally or overseas.
Under the OVR regime, overseas digital service providers with a yearly global turnover of more than S$1 million that sell more than S$100,000 worth of digital services to customers in Singapore in a 12-month period are required to register for GST and charge GST.
Source: gov.sg
