On or about 30 December 2019, the Inland Revenue Authority of Singapore (IRAS) has released the fifth edition of the e-Tax Guide GST: Transfer of Business as a Going Concern and other Excluded Transactions. It replaces the fourth edition published on 2 September 2019.
The revised e-Tax Guide incorporates the following updates:
- amended paragraph 3.3 to include the exempt supply of digital payment tokens with effect from 1 Jan 2020.
- inserted a new paragraph 14 on the use of digital payment tokens as payment.
For more information, please visit the IRAS website.
Source: IRAS website, 30 December 2019.