(March 11, 2015) 

On March 11, 2015 the Inland Revenue Authority of Singapore published the IRAS e-Tax Guide “GST: Guide For Retailers (Second edition)”.

According to the e-Tax Guide the aim of the Guide is to provide details on the GST treatment applicable to common scenarios encountered by retailers (businesses that sell goods to end consumers) and also addresses frequently asked questions.

The e-Tax Guide discusses subjects like a.o.: 

• Price Display;

• Invoicing;

• Absorbing GST;

• Discounts;

• Rounding Adjustments;

• Consignment Sales;

• Concessionaire Sales;

• Trade-in;

• Deposits;

• Returned Goods;

• Rebates;

• Vouchers Given Away Free;

• Vouchers Sold For Consideration;

• Third Party Vouchers;

• Phone Cards;

• Stamps, Parking Coupons & Newspapers; and

• Goods Sold Under Hire-purchase.

For further information click here to be forwarded to the text of the e-Tax Guide as published on the website of the Inland Revenue Authority of Singapore.

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