Re-write of e-Tax Guide on Approved Contract Manufacturer and Trader (ACMT) Scheme

by | Jul 11, 2018 | Income Tax, Tech News

Contract manufacturers and traders under the ACMT scheme are relieved of the need to account for GST on value added activities supplied to non-GST registered overseas customers.
On 16 July 2018, the Inland Revenue Authority of Singapore (IRAS) has re-write it e-Tax Guide – GST: Approved Contract Manufacturer and Trader (ACMT) Scheme.
This e-Tax Guide explains the benefits, qualifying criteria and obligations of the ACMT Scheme and was written for GST-registered contract manufacturer (“CM”) in the semi-conductor, printing or biomedical industry who wish to apply for the scheme or are already approved as ACMT CM or ACMT LOG2 under the scheme.
Source: IRAS, 12 July 2018