Singapore Tax Agency Updates Guidance for GST-Registered Companies Under Liquidation

The Singaporean Inland Revenue Authority Feb. 20 updated guidance on GST obligations for companies placed under liquidation, for the liquidating company and the appointed liquidator. The guidance states that: 1) liquidators must obtain access to manage GST filing and payment; 2) GST return filing obligations are split between the company and the liquidator, with returns due within one month after the relevant accounting period; 3) input tax may be claimed on winding-up expenses directly attributable to taxable supplies; 4) GST must be accounted for on the sale, disposal, or transfer of business assets; 5) GST on asset sales by third ...