VATupdate

Singapore Publishes New e-Tax Guide on GST for the Travel Industry

The Inland Revenue Authority of Singapore (IRAS) has published a new e-Tax Guide, GST: Guide for the Travel Industry (First Edition), which replaces the e-Tax Guide, GST: Travel Industry (Seventh Edition). The new guide explains the GST principles and treatment for the supplies of travel products, services, and transactions commonly encountered in the travel industry. The guide also covers the Budget 2022 announcement on the change in the GST treatment of services comprising the arranging of international transport of passengers and related insurance as well as the arranging or facilitating the booking of accommodation (travel arranging services), which takes effect from 1 January 2023 with transitional rules for such services straddling that date.

Source Orbitax

 

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