Singapore's Ministry of Finance has launched a public consultation on the draft GST (Amendment) Bill 2018. The main measures of the bill concern the collection of GST on imported services that will take effect from 1 January 2020 through:
- A Reverse Charge mechanism for business-to-business (B2B) imported services, where the local GST-registered business customer is required to account and pay GST to the Inland Revenue Authority of Singapore (IRAS) directly, on the services that it imports;…