Singapore Tax Agency Updates FAQs on GST Reverse Charge Mechanism for Import Services


The Singaporean Inland Revenue Authority Oct. 23 updated FAQs on the GST reverse charge mechanism for business-to-business imported services. Topics covered include: 1) the definition and scope of reverse charge; 2) suppliers and companies subject to a reverse charge; 3) the value of imported services subject to withholding tax; 4) the application of reverse charges on transfer pricing adjustments of management fees charged by overseas companies; 5) treatment of qualifying funds; and 6) documentation requirements. The measures were announced as part of the 2018 budget and will take effect Jan. 1, 2020. [Singapore, Inland Revenue Authority of Singapore, 10/23/19]

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