{"id":1134,"date":"2020-01-08T17:21:08","date_gmt":"2020-01-08T09:21:08","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1134"},"modified":"2020-01-14T17:33:34","modified_gmt":"2020-01-14T09:33:34","slug":"gst-on-imported-services","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2020\/01\/08\/gst-on-imported-services\/","title":{"rendered":"GST on Imported Services"},"content":{"rendered":"\n<p>On or about 8 January 2020, the Inland Revenue Authority of Singapore has updated its webpage regarding GST on imported services.<\/p>\n\n\n\n<p>GST is a tax on local consumption. Under the current GST rules, services (other than an exempt supply) supplied by a supplier who belongs in Singapore is subject to GST while the same services supplied by a supplier who belongs outside Singapore is not.<\/p>\n\n\n\n<p>In Budget 2018, the Minister for Finance has announced to level the GST treatment for all services consumed in Singapore, the following regimes will be implemented from 1 January 2020 to tax imported services: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Reverse charge regime for Business-to-Business (B2B) supplies* of imported services, and<\/li><li>Overseas vendor registration regime for Business-to-Consumer (B2C) supplies* of imported digital services.<\/li><\/ul>\n\n\n\n<p>* Business-to-business (\u201cB2B\u201d) supplies  refer to supplies made to GST-registered persons, including companies,  partnerships and sole-proprietors. Business-to-Consumer (\u201cB2C\u201d) supplies refer to supplies made to non-GST registered persons, which include individuals and businesses that are  not registered for GST.      <\/p>\n\n\n\n<p>GST-registered  businesses from 1 January 2020 will be classified either as a  GST-registered partially exempt business that is not entitled to a full  input tax credit or a GST-registered charity or voluntary welfare  organization that receives non-business receipts.<\/p>\n\n\n\n<p>Non-GST registered businesses are however not entitled to a full input tax  credit if their total value of imported services for a 12-month period  exceeds S$1m.<\/p>\n\n\n\n<p>Overseas vendors are \nrequired to register for GST if they have an annual global turnover \nexceeding $1m and make B2C supplies of digital services to customers in \nSingapore exceeding $100,000.<\/p>\n\n\n\n<p>Electronic marketplace operators are required to register for GST only under certain conditions.<\/p>\n\n\n\n<p>Under  the Overseas Vendor Registration regime, supplies of digital services  to consumers (i.e. individuals and non-GST registered businesses) are  subject to GST.  A GST-registered overseas service provider will thus  have to determine if a customer is GST-registered to charge GST  correctly.<\/p>\n\n\n\n<p>For more information on GST on imported services, please visit the IRAS website.<\/p>\n\n\n\n<p>Source: IRAS website, 8 January 2020<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On or about 8 January 2020, the Inland Revenue Authority of Singapore has updated its webpage regarding GST on imported services. GST is a tax on local consumption. Under the current GST rules, services (other than an exempt supply) supplied by a supplier who belongs in Singapore is subject to GST while the same services [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9,6],"tags":[],"class_list":["post-1134","post","type-post","status-publish","format-standard","hentry","category-gst","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1134","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1134"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1134\/revisions"}],"predecessor-version":[{"id":1135,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1134\/revisions\/1135"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1134"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1134"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1134"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}