Publication Type
Journal Article
Version
publishedVersion
Publication Date
2-2019
Abstract
With the rapid development of the digital economy and the increasing importance of GST as a source of tax revenue, the Singapore Government has proposed several reforms to tighten the collection of tax revenue and tap its tax base more efficiently. The reforms focus on activating the currently dormant “reverse charge” mechanism to collect GST on supplies of services “imported” by businesses; creating an “overseas vendor registration regime” to catch digital products “imported” by individuals; and clarifying the “place of supply” requirement for supplies of digital products. This article considers the reforms from the perspective of a foreign business that may potentially be affected and explores the potential implications that are projected to kick in by January 2020. In the upshot, this article argues that the reforms will help the revenue authorities avoid gaps in the Singapore GST regime and better utilise GST as a revenue-collection tool for Singapore.
Keywords
Tax Law, Taxation, Goods and Services Tax, GST
Discipline
Taxation | Tax Law
Research Areas
Corporate, Finance and Securities Law
Publication
Tax Notes International
Volume
93
First Page
1
Last Page
10
ISSN
1048-3306
Publisher
Tax Analysts
Citation
LIU, Hern Kuan and OOI, Vincent.
Proposed reforms to Singapore Goods and Services Taxation in the digital economy. (2019). Tax Notes International. 93, 1-10.
Available at: https://ink.library.smu.edu.sg/sol_research/2889
Copyright Owner and License
Publisher
Creative Commons License
This work is licensed under a Creative Commons Attribution-NonCommercial-No Derivative Works 4.0 International License.
Additional URL
https://www.taxnotes.com/tax-notes-international/tax-reform/proposed-reforms-singapores-goods-and-services-tax-digital-age/2019/02/04/2924g