The GST legislation has been amended with effect from 1 January 2021 to provide the Comptroller of GST powers to deny input tax credits if the Comptroller is of the view that the business seeking the input tax credit “knew or should have known” that the purchase was part of any arrangement to cause loss of public revenue (whether or not the loss was in fact caused).
Source: PwC
Latest Posts in "Singapore"
- Singapore Mandates GST InvoiceNow E-Invoicing: Phased Rollout, Compliance Steps, and Key Exclusions
- Singapore Updates InvoiceNow GST E-Invoicing Guidance: New Deadlines, Early Adoption, and Support
- Singapore Mandates E-Reporting for All New Voluntary GST Registrants from April 2026
- Singapore Mandates Phased InvoiceNow Adoption for GST Businesses, Offers Funding Support Through 2031
- Comprehensive Guide to Country VAT, E-Invoicing, Registration, and Fiscal Compliance Requirements
