Deconstructing GST on Digital Payment Tokens

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Recommended: Mine for the need-to-knows through all that have been said
18 June 2021, Friday

Closing date: 11 June 2021, Friday or when spaces are filled

09.30 - 11.00AM

Tech check from 9.15am

Online Classroom

CPE Hours (Income Tax):

0 hour(s)

CPE Hours (GST):

1.5 hour(s)

$28 (SCTP/ISCA Member); $38 (Association Member); $58 (Non-Member)
Details/ Promotion:

Contact Rowan (6597 5719), Nabila (6597 5714) or
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Programme Synopsis

The rise of digital currencies has whetted the appetite of businesses, investors and techies. Many have dipped into this realm and transformed the way they do business or at least the way they get paid! But, where there is revenue, there follows the tax-man. 

Since the Inland Revenue Authority of Singapore first published its e-Tax guide on GST for Digital Payment Tokens, much more has been discussed, especially in recent times. What does it mean when companies issue digital currencies? How do digital payment tokens work in the electronic marketplace? How should the GST be applied?
Join in this upcoming session to explore this virtual world and catch up on what has been said. More importantly, be conversant on the GST impact. Facilitated by Accredited Tax Advisor (GST) Mr Richard Mackender, Indirect Tax Leader at Deloitte South East Asia and currently based in Singapore, this session promises to bring you up to speed on the workings of the digital world and what has been said in the e-Tax guide.

Programme Outline

  • Know how digital payment tokens are used and their characteristics
  • Explore the landscape and be familiar with this virtual marketplace
  • Understand how GST rules such as value and time of supply and belonging status are applied 
  • Comprehend how reverse charge is applied
  • Grasp the various implications and impact on GST-registered businesses 

About the Facilitator(s)

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Mr Richard Mackender
Indirect Tax Leader
Deloitte South East Asia and Singapore
Accredited Tax Advisor (GST)

A key member of SCTP’s GST Technical Committee, Richard has more than 20 years of Indirect Tax experience serving both local and multinational companies in Asia Pacific and the UK. He also leads Deloitte’s South East Asia Indirect Tax practice. Starting from being part of Deloitte UK’s London VAT team in 1997 and subsequently moving to Singapore in 2003, Richard’s forte is in advising large corporates on the indirect tax aspects of their activities, not only from a Singapore GST perspective, but also with regard to the wider Asia Pacific VAT/GST issues that arise. He covers a range of sectors in Singapore, with particular focus on Financial Services.

Besides being responsible for indirect tax within Deloitte’s Asia Pacific Compliance Centre, Richard is also a regular speaker, a contributing author for Wolter Kluwer’s Goods and Services Tax Guide and has co-authored a number of GST books published by Wolter Kluwer. Richard is a law graduate from the University of Wales (UK) and trained as a barrister.


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