Singapore Tax Agency Issues Guidance on GST Registration for Overseas, Local Businesses

The Singaporean Inland Revenue Authority April 22 issued GST registration guidance for overseas and local businesses. Topics covered include: 1) an overview of overseas vendor registration (OVR) for business-to-consumer (B2C) supplies and reverse charges for business-to-business (B2B) imports, for overseas and local businesses; 2) mandatory registration under the OVR regime for overseas businesses with global turnover exceeding S$1 million (US$734,735) and with B2C supplies of remote services and/or low-value goods (LVG) in Singapore exceeding S$100,000 (US$73,473) annually; 3) mandatory registration for local businesses with taxable turnover and/or the total value of imported services and LVG exceeding S$1 million over a ...