On or about 19 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published a summary of the key suggestions received on the draft e-Tax Guide “GST: Digital Payment Tokens” and its responses to the suggestions.
The IRAS has received 19 comments from respondents include:
- Suggestions and clarifications on the definition of DPT;
- Requests to treat the first issuance of DPT as a regulation 33 exempt supply;
- Requests for GST remission for supplies of DPT made before 1 January 2020; and
- Clarifications on GST reporting requirements.
For more information, please visit the IRAS website.
Source, IRAS website, 19 November 2019