Generally, a GST-registered business is required to charge 7% GST on the supply of goods or services made in Singapore. However, the provision of international services and exports of goods can be zero-rated.
Companies may only zero-rate their supply of services if it falls within the description of international services under Section 21(3) of the GST Act.
0% GST can be charged for your supply of goods when you are certain that at the point of supply:
- The goods supplied will be exported or have been exported; and
- You have the required documents to support zero-rating
This topic is regarded as one of the more challenging areas of GST. Hence, this workshop will help provide in-depth insights on the essential issues and peculiarities of GST treatment on zero-rated supplies. By using practical examples and case studies, you will get a clear understanding on how to correctly apply zero-rating treatment to avoid common errors and costly penalties.
A Highlight of Key Areas:
Place of Supply
- Belonging concept
- Determining the belonging of Supplier and Customer
Zero-Rating of International Services
- Determining the belonging status of customers
- Clarification on “directly in connection with” and “directly benefit”
- Misconceptions
- List of services and their conditions
- Examples and illustration
- Avoiding the mistakes commonly made in applying zero-rating
- Recent updates
Zero-Rating of the Export of Goods
- Direct and Indirect Exports
- The 60-day Rule
- The various circumstances and documentary requirements for which a supply of goods can be zero-rated
- Situations where supplies of goods do not qualify for zero-rating
- Goods Hand-carried out of Singapore
- Examples and illustration
- Avoiding the mistakes commonly made in applying zero-rating
- Recent updates