{"id":1470,"date":"2022-01-15T10:55:17","date_gmt":"2022-01-15T02:55:17","guid":{"rendered":"https:\/\/wordpress-1060383-4052188.cloudwaysapps.com\/?p=1470"},"modified":"2022-04-19T14:30:59","modified_gmt":"2022-04-19T06:30:59","slug":"gst-chargeable-on-imported-goods-below-s400-from-1-january-2023","status":"publish","type":"post","link":"http:\/\/webpreview.sg\/mms\/gst-chargeable-on-imported-goods-below-s400-from-1-january-2023\/","title":{"rendered":"GST chargeable on imported goods below S$400 from 1 January 2023"},"content":{"rendered":"\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t\t
\n\t\t\t
\n\t\t\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

The Singapore government recently introduced new legislation to impose Goods and Services Tax (GST) on all imported goods from 1 January 2023 as an extension of the Overseas Vendors Registration (OVR) and Reverse Charge (RC) regimes.<\/p>\n

Under OVR rules, imported digital services such as mobile games and online streaming services are GST-chargeable. The RC scheme taxes services imported by locally GST-registered persons. The OVR and RC regimes were introduced on 1 January 2020.<\/p>\n

Under the current rules, imported low-value goods (LVGs) valued below S$400 are exempted from GST. However, with the new regulations, local or overseas suppliers must collect GST on all goods imported by air or post, regardless of value.<\/p>\n

The new legislation also covers business-to-consumer (B2C) non-digital remote services such as live educational courses from overseas providers, which only covers digital services under the current rules.<\/p>\n

The purpose of the new GST regime is to level the playing field for GST-registered local suppliers who are subject to GST for supplying goods and services under S$400. In short, all goods and services in Singapore will be GST chargeable whether they are procured locally or from overseas.<\/p>\n

Local companies that supply LVGs overseas are required to charge GST and may be liable for GST registration. Similarly, companies that re-delivers LVGs to Singapore consumers may be treated as suppliers of LVGs. Electronic marketplaces such as Amazon and Lazada will also be affected by these changes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t
\n\t\t\t
<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t
\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t

There are many important areas that should be taken into consideration in making an assessment on how the recent new rules impact your businesses. These would include:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t

\n\t\t\t\t
\n\t\t\t\t\t\t\t\t\t