by admin | Dec 10, 2019 | Goods and Services Tax, Tech News
A digital payment token refers to any cryptographically-secured digital representation of value that is used or intended to be used as a medium of exchange. The token have all of the following characteristics:it is expressed as a unit: it is expressed as a unit;it is...
by admin | Dec 10, 2019 | Income Tax, Tech News
On or about 9 December 2019, Singapore and Germany signed a Protocol amending the 28 June 2004 Agreement for the Avoidance of Double Taxation with respect to Taxes on Income and on Capital (“Protocol”). The Protocol seeks to enhance the cross-border trade and...
by admin | Dec 9, 2019 | Goods and Services Tax, Tech News
From 1 January 2020, a consumer in Singapore will need to pay GST on digital services purchased from GST-registered overseas service providers. Currently, only locally procured services are subject to GST, while services procured from overseas are not. The change is...
by admin | Dec 9, 2019 | Goods and Services Tax, Tech News
IRAS stated that more than 100 overseas digital service providers have registered for goods and services tax (GST), ahead of GST imported digital services kicking in on 1 January 2020. Digital services are those provided over the Internet or an electronic network such...
by admin | Dec 5, 2019 | Goods and Services Tax, Tech News
From 1 January 2020, a non-GST registered business would be liable for GST registration by virtue of the reverse charge rules under the following circumstances: the value of imported services made by the business which fall within the scope of reverse charge exceeds...
by admin | Dec 4, 2019 | Income Tax, Tech News
On or about 4 December 2019, the Inland Revenue Authority of Singapore (IRAS) updated the following forms on its website: Claim for Relief from Singapore Income Tax Under Avoidance of Double Taxation Agreement 1d: Tax Treaty Calculator for Non-Resident Professionals...
