GST is a tax on local consumption, i.e. it is levied on all services consumed in Singapore whether they are procured from local or overseas suppliers. Prior to 1 Jan 2020, services (other than an exempt supply) supplied by a supplier who belongs in Singapore is subject to GST while the same services supplied by a supplier who belongs outside Singapore is not.
To level the GST treatment for all services consumed in Singapore, the following regimes were implemented from 1 Jan 2020 to tax imported services:
- Reverse charge regime for Business-to-Business (“B2B”) supplies* of imported services; and
- Overseas vendor registration regime for Business-to-Consumer (“B2C”) supplies* of imported digital services.
* Business-to-Business (“B2B”) supplies refer to supplies made to GST-registered persons, including companies, partnerships and sole-proprietors. On the other hand, Business-to-Consumer (“B2C”) supplies refer to supplies made to non-GST registered persons, which include individuals and businesses that are not registered for GST.
Source: gov.sg
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