Singapore Tax Agency Updates GST e-Tax Guides for Logistics Companies

Oct. 24, 2019, 7:11 PM

The Singaporean Inland Revenue Authority Oct. 22 updated the GST e-tax guides for logistic companies. Updates include information on: 1) registration of overseas principals as pay-only persons under the Overseas Vendor Registration (OVR) regime; 2) computation of the 50 percent qualifying threshold for the 12 month period before and after Jan. 1, 2020; 3) declaration form requirements; and 4) implementation of the reverse charge mechanism Jan. 1, 2020, which allows for extension of zero-rated GST to certain services contractually supplied to overseas entities and directly benefiting a GST-registered person in Singapore. [Singapore, Inland Revenue Authority of Singapore, 10/22/19]

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