VATupdate

Deferment of GST administrative concession removal for recovery of overseas brokerage fees and costs

The Inland Revenue Authority of Singapore (IRAS) announced that the removal of the goods and services tax (GST) administrative concession for the recovery of overseas brokerage fees and related costs on shares traded on overseas exchanges is deferred to 1 January 2023 (from 1 April 2022 (originally 1 October 2021)).

Source: KPMG

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