e-Tax Guides rewritten by IRAS

10 October 2013

The Inland Revenue Authority of Singapore (IRAS) released an updated list of rewritten e-Tax Guides on 7 October 2013.  The list includes 13 rewritten e-Tax Guides published on 30 September 2013.  They are:

  • GST: Guide for Motor Vehicle Traders
  • GST: Guide for Divisional Registration
  • GST: Guide on Imports
  • GST: Construction Industry (English version)
  • GST: General Guide on Group Registration
  • GST: Guide on Non-Business Receipts – Business Tests and the Effect of Non-Business Receipts on Input Tax Claims
  • GST: Self-Accounting of GST by Listed REITs and their SPVs for Property Purchases
  • GST: Approved Marine Fuel Trader (AMFT) Scheme
  • GST: Supply of Electricity to Master-Metered and Sub-Metered Consumers
  • GST Treatment of Web-Hosting Services and Server Co-location Services
  • GST: Guide on Hand-Carried Exports Scheme
  • GST: Concession for REITS and Qualifying Registered Business Trusts Listed in Singapore
  • GST: Exchange Rates For GST Purpose

For more details, please refer to the IRAS website.

Source: Inland Revenue Authority of Singapore

IRAS issues revised GST e-Tax guide for Motor Vehicle Traders

5 April 2013

The e-Tax guide titled “GST: GST Guide for Motor Traders” was revised on 1 April 2013 and renamed “GST: GST Guide for Motor Vehicle Traders”.

The following revisions have been made in this Fourth Edition:

1. Paragraph 5.4 which previously read “When I sell a vehicle which is granted green rebate by LTA, can I deduct the full value of ARF from the selling price of the vehicle when computing the value on which GST is to be charged? “, has been amended to replace the words “green rebate” with “rebates by LTA under the Green Vehicle Rebate Scheme (GVR) or the Carbon Emissions-Based Vehicle Scheme (CEVS)”.

2. Paragraph 2 on GST Registration has been added and covers the following:

  • When am I liable to register for GST?
  • What are taxable supplies?
  • Can I charge GST before my GST application is approved?

3. Paragraph 21 on Claiming Input Tax has been added and covers the following:

  • Can I claim GST (input tax) incurred for my business?
  • Can I claim the GST incurred on goods or services acquired before my GST registration (i.e. pre-registration GST )?

4. Paragraph 22 on De-registration has been added and covers the following:

  • Can I cancel my GST registration?
  • How do I account for GST for assets held on the last day of registration?

5. Paragraph 23 on Record Keeping has been added and covers the following:

  • What are the types of business records I need to keep?
  • How long do I need to keep my business records?
  • What if I fail to keep my business records?

6. A new template for CEVS rebates has been added in Appendix 6.

The e-Tax guide has been re-numbered due to the addition of the new paragraphs. More details can be found on the IRAS website.

Source: This article was extracted from the Inland Revenue Authority of Singapore (IRAS) website.