The Inland Revenue Authority of Singapore (IRAS) has published an updated e-Tax guide on GST for the aerospace industry. The e-Tax Guide provides details of the GST treatment for aircraft and aircraft-related supplies.
The GST treatment for aircraft and aircraft-related supplies recognizes that the aerospace industry is export-oriented and highly regulated and that aircraft parts are unique and have no alternative uses apart from being fitted onto aircraft. Consequently, the sale, rental, r…