Singapore Tax Agency Updates Guidance on GST Registration

The Singaporean Inland Revenue Authority Aug. 28 updated a guidance on GST registration. The updated guidance includes: 1) that GST registration is required under the retrospective view if taxable turnover exceeds S$1 million (US$779,161) by the end of the calendar year, or if turnover is expected to exceed that amount in the next 12 months under the prospective view; 2) that taxable turnover includes the total value of taxable supplies in Singapore, including standard- and zero-rated supplies, but not sales of capital assets or out-of-scope supplies; and 3) that taxpayers must register by Jan. 30 of the next year under ...