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A trade-in transaction is treated as two separate supplies for GST purposes. When you accept trade-ins, you (the supplier) must charge GST on the full selling price of your goods and not on the net difference.
29 sie 2022 · electronic marketplace operator may opt to account for GST on your remote services. For this, the electronic marketplace operator will need to seek your agreement to account GST on your remote services made through the marketplace and obtain approval from IRAS to do so in writing.
On 5 April 2022, Inland Revenue Authority of Singapore (IRAS) published an e-Tax Guide on the tax treatment on the appropriation of trading stock for non-trade or capital purposes and conversion of non-trade or capital assets to trading stock (e-Tax Guide).
Share: Explains how GST should be charged on electronic commerce transactions of physical goods, and services supplied over the internet including digital services. Physical goods supplied over the internet. Overseas Vendor Registration (OVR) regime on B2C import of low-value goods. Services supplied over the internet.
The Inland Revenue Authority of Singapore (IRAS) recently released a new e-Tax Guide titled “Tax Treatment on Appropriation of Trading Stock for Non-Trade or Capital Purposes and Conversion of Non-Trade or Capital Assets to Trading Stock”. The e-Tax Guide provides details on the income tax treatment when trading stock held by businesses is
GDY was identified as a high-risk wholesaler as it traded in electronic products that were small in size and yet high in value. This also played a part in triggering the audit in January 2016.
Under the IRAS’ e-Tax Guide Income Tax Treatment of Digital Tokens published on 17 April 2020, if a person is trading in digital tokens and derived gains that are revenue in nature, such gains will be subject to income tax in Singapore.
