Singapore GST changes
- Sep 7, 2014 | Richard Asquith
A range of tax deductions and reclaims have been proposed to the Singapore Goods & Services Tax regime. These include:
- A relaxation on the deductibility of GST on real estate and goods incurred by unincorporated GST registered persons. This includes entrepreneurs and partnerships.
- Allowance for the nil-rating of GST on the provision of installation or leasing of equipment and fixtures on sea-going ships
- Ability to recover GST incurred on the reimportation of goods belonging to customers. This is aimed at the growing outsourcing business, which includes foreign reprocessing or repurposing of clients’ goods for resell in Singapore
VP Global Indirect Tax Richard Asquith
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. He is part of the European leadership team which this year won International Tax Review's Tax Technology Firm of the Year. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.