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Singapore Updates GST e-Tax Guidelines for the Maritime Industry

02 Jun
Singapore Updates GST e-Tax Guidelines for the Maritime Industry CYWORLD WEALTH Advocate Cyprus

Singapore Updates GST e-Tax Guidelines for the Maritime Industry

Singapore Updates GST e-Tax Guidelines for the Maritime Industry

On May 31, 2021, the Inland Revenue Authority of Singapore (IRAS) published an updated e-tax guide: The Maritime Income Tax Guide (Third Edition). The guide explains how the goods and services tax works for ships and certain ship and marine supplies. In the updated legislation, information can be found that the sale or lease of goods and certain services provided to ships may have a zero rate if certain conditions are met.

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