- From 1 July 2025, IRAS released the Fourth Edition of its e-Tax Guide on GST for imported low-value goods.
- The registration deadline for forecast-based GST obligations is extended.
- Effective registration date is two months after the forecast date.
- Example: Forecast date of 2 September 2025 means registration date is 2 November 2025.
- Overseas OVR Vendor must register if global turnover exceeds SGD 1 million and supplies to Singapore exceed SGD 100,000.
- Local OVR Vendor must register if taxable turnover is expected to exceed SGD 1 million.
- Businesses should regularly monitor forecast turnover for registration obligations.
Source: fintua.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.
