GST e-Tax Guide: Advance Ruling System

by | Apr 7, 2019 | Goods and Services Tax, Tech News

On or about 5 April 2019, the Inland Revenue Authority of Singapore (IRAS) has published the fourth edition of GST e-Tax Guide: Advance Ruling System. It replaces the third edition which was published on 11 October 2018.

This e-Tax Guide explains the GST advance ruling system and the application procedures which was published on 2 Apr 2012.

Summary to the key amendments include:

  • application for advance ruling will generally be processed on a first-come-first-serve basis. Generally, a ruling is given within 8 weeks of receiving all necessary information;
  • a summary of advance ruling will be published on the IRAS website at least 6 months after the ruling has been issued. It will not disclose the identity of the parties, the arrangement or any other parties to the arrangement in the ruling, date of transaction or the transactional values;
  • the fees payable for the provision of an advance ruling is based on cost recovery and includes an application fee of $620 (inclusive of GST), or $660 (inclusive of GST) which is non-refundable. Further, a time-based fee is also applicable for each or part hour subsequent to the first four hours taken to provide the ruling; and
  • a confirmation in writing for acceptance of the terms is required after the Comptroller of GST accepts the application with estimated additional fee payable for an express ruling. Any difference in the actual fees and the estimated fees must be paid within 30 days of issue of invoice by IRAS and the refund would be made within 15 working days.

The following are specific updates and amendments:

  1. Inserted paragraphs 3.7 and 3.8 and Appendix 1 on publishing of advance rulings for applications made on or after 1 May 2019
  2. Amended paragraphs 5.1(a) and 5.1(b) due to the increase in the application fee and further time-based fee for applications made on or after 1 May 2019
  3. Amended paragraph 5.4 and inserted paragraph 5.6 due to the requirement to pay estimated fees upon acceptance of terms for applications made on or after 1 May 2019

Source: IRAS, 5 April 2019