10 July 2017
The fourth edition of the e-Tax Guide which outlines the GST treatment for aircraft and aircraft-related supplies was issued by Inland Revenue Authority of Singapore (IRAS) on 19 June 2017.
The revised guide clarifies that for repair and maintenance activities to qualify for zero-rating under section 21(3)(p), the aircraft or aircraft parts on which they are performed must remain airworthy as well as necessary documents specified maintained. This is because zero-rating relief is accorded on the basis that the repaired aircraft part would, following the repair or maintenance, form part of a qualifying aircraft.
The previous edition was published on 1 June 2016.
For full details, please refer to the e-Tax Guide on the IRAS website.
Source: This article was extracted from the Inland Revenue Authority of Singapore’s (IRAS) website. Visit http://www.iras.gov.sg/ for more information.