- Singapore updates GST e-Tax Guides effective 1 July 2025
- Revised rules for prospective GST registration and Gross Margin Scheme (GMS)
- Businesses with forecasted turnover over SGD 1 million must register for GST within 30 days
- GST registration effective two months after forecast date
- Eligible businesses can adopt GMS without prior IRAS approval
- Updates made to several e-Tax Guides
- Overseas Vendor Registration Regime LVG and Remote Services updated for new registration rules
- Hire Purchase Agreements and Financing Instruments no longer require IRAS approval for GMS
- Motor Vehicle Traders no longer need GMS approval; checklist replaces declaration form
- Customer Accounting for Prescribed Goods revised for eligibility-based GMS use
- Reverse Charge updated for new registration rules and editorial changes
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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