25 May 2016
The Inland Revenue Authority of Singapore (IRAS) updated its website content in relation to GST treatment on real estate.
For sale of completed non-residential properties, taxpayers are still required to report the property sale in their GST returns even if the GST charged on the sale of property had already been remitted directly to IRAS by their lawyers.
The sale value of the property (excluding GST) and the corresponding GST amount are to be reported in Boxes 1 and 6 of the GST return respectively.
The update was made on 9 May 2016.