On or about 31 March 2014, the Inland Revenue Authority of Singapore (IRAS) has released the first edition of the e-Tax Guide GST Guide for the Aerospace Industry.
This e-Tax Guide provides details of the GST treatment for aircraft and aircraft-related supplies.
The GST treatment for aircraft and aircraft-related supplies recognizes that the aerospace industry is export-oriented and highly regulated.Aircraft parts are unique and have no alternative uses apart from being fitted onto an aircraft.
Consequently, the sale, rental,repair and maintenance of qualifying aircrafts and aircraft parts can be zero-rated if certain conditions are fulfilled.
Source: IRAS website, 31 March 2014