The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax Guide – GST Guide on Insurance: Cash Payments and Input Tax on Motor Car Expenses (Third Edition).
1 Aim
1.1 This e-Tax Guide explains the GST treatment for Cash Payments and input tax incurred on motor car expenses by GST-registered general insurance companies.
2 At a glance
2.1 Under an insurance contract, an insurance company may choose or be required to make cash payment to the claimant when an insured event happens (referred to as “ Cash Payment” in this e-Tax Guide).
Source Orbitax
