Singapore: Updated guidance on GST for remote services, tax treatment of hybrid instruments

Updated guidance from the Inland Revenue Authority of Singapore

The Inland Revenue Authority of Singapore (IRAS) recently updated its webpage on goods and services tax (GST) for remote services to consolidate guidance on the GST treatment of both digital and non-digital remote services. The update also adds a new section clarifying that only GST-registered providers are permitted to charge GST. It also includes a link for users to verify the GST registration status of the overseas service providers and outlines the steps consumers should take if they encounter wrongful GST collection.

In addition, the IRAS released the third edition of its e-tax guide on the income tax treatment of hybrid instruments. The key updates include clarification of the tax authority’s approach to determining whether a hybrid instrument is treated as debt or equity for tax purposes and updated guidance on the tax treatment of distributions on instruments issued by a registered business trust.

For more information, contact a KPMG tax professional in Singapore:

Audrey Wong | audreywong@kpmg.com.sg

Han Swee Peng | sweepenghan@kpmg.com.sg

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Singapore: Updated guidance on GST for remote services, tax treatment of hybrid instruments

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