5 Major Developments in Singapore

5 Major Developments in Singapore

• GST Rate on Imports of Low-Value Goods and B2C Imported Non-Digital Services

• Singapore Updates Guidance on 2024 GST Rate Change

• Application of GST in “direct selling” business model (High Court decision)

• Introduction to New Singapore e-Invoice System

• Singapore Publishes Updated GST Guide on Exemption of Investment Precious Metals

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Deduction (Input Tax Credit)

• Singapore drives changes on GST claims for motor cars and related expenses

E-Commerce / Electronic Services

• GST Rate on Imports of Low-Value Goods and B2C Imported Non-Digital Services

• How GST Liability is Assessed on Low Value Goods Transactions in Singapore

E-invoicing

• Introduction to New Singapore e-Invoice System

• Singapore releases updated InvoiceNow FAQs

• Singapore plans to make Peppol default e-invoicing method for the public sector

Exemption

• Singapore Publishes Updated GST Guide on Exemption of Investment Precious Metals

• IRAS e-Tax Guide on GST: Guide on Exemption of Investment Precious Metals (IPM) (Eighteenth Edition)

• Singapore Updates e-Tax Guide Clarifying Directly in Connection With and Directly Benefit for GST Purposes

Fraud / Tax Evasion

• Man jailed 37 months for masterminding fake tax refunds, evading GST

Importation

• GST Rate on Imports of Low-Value Goods and B2C Imported Non-Digital Services
• How GST Liability is Assessed on Low Value Goods Transactions in Singapore

Place of Supply

• Guidance: GST treatment of travel products

Private Use

• Singapore drives changes on GST claims for motor cars and related expenses

Rate

• E-tax guide for businesses on upcoming 2024 GST rate adjustment

• Singapore GST Rate Change: Important Updates and Preparations

• Singapore Updates Guidance on 2024 GST Rate Change

• Further guidance regarding the GST rate change

• IRAS e-Tax Guide 2024 GST Rate Change: A Guide for GST-registered Businesses (First Edition)

• Changes in standard VAT rates in Estonia, Luxembourg, Singapore and Switzerland per Jan 1, 2024

• Updated E-Tax guide on GST for travel services

Reporting / Compliance

• IRAS e-Tax Guide on ASK

Supply of Services

• Singapore Updates e-Tax Guide Clarifying Directly in Connection With and Directly Benefit for GST Purposes

Taxable Amount

• Application of GST in “direct selling” business model (High Court decision)

Taxable Transaction

• GST: Clarification on “Directly in Connection With” and “Directly Benefit”

VAT Identification Number

• How GST Liability is Assessed on Low Value Goods Transactions in Singapore