On or about 21 November 2019, the Inland Revenue Authority of Singapore (IRAS) has published the e-Tax Guide GST: Guide for E-Commerce.
This e-Tax Guide explains the GST principles relevant to the e-commerce industry and provides assistance in understanding how Goods and Services Tax (‘GST’) should be charged on electronic commerce transactions of physical goods and digital services. It replaces the e-Tax guide “GST: Guide for e-Commerce (Fourth Edition)” published on 13 February 2018.
It is essential to businesses that are a local GST-registered supplier or a local GST-registered marketplace operator in the business of providing goods and services in the e-commerce industry.
The e-Tax guide also details out information on:
- Physical goods supplied over the Internet
- Services/digital services supplied via the Internet
- Digital Services supplied through an electronic marketplace
- Definition of “belonging in Singapore”
- Accounting for GST
- Invoicing your customers
- Online price displays
- Electronic Records.
For more information, please visit the IRAS website.
Source: IRAS website, 21 November 2019