Publication Type
Blog Post
Version
publishedVersion
Publication Date
12-2018
Abstract
GST transfers of a going concern—overviewThe sale of a business is in substance the sale of a number of assets bundled together. Generally, GST would be charged on the transfer of each asset according to the rules applicable to that asset, i.e. standard-rate, zero-rate or exempt.However, where a business is transferred as a going concern (a “TOGC”), the transaction may be treated as an excluded transaction under the Goods and Services Tax (Excluded Transactions) Order. If so, the trans-action would be treated as neither a supply of goods nor a supply of services and therefore outside the scope of GST. No GST is then chargeable on the sale of the business.
Keywords
Tax, Tax Law
Discipline
Business Law, Public Responsibility, and Ethics
Research Areas
Corporate, Finance and Securities Law
Publication
Lexis Practical Guidance Singapore Tax
Publisher
Informa Business Intelligence
Citation
OOI, Vincent.
Transfer of a going concern. (2018). Lexis Practical Guidance Singapore Tax.
Available at: https://ink.library.smu.edu.sg/sol_research/2828
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.