Taxation of Individuals(18m)______ Employment Income 2.

2.S12(1) ITA (when no treaty) Payment 15th of 2nd month following month which income is paid/deemed paid to NR | Date:
Source: only look at where the duties of employment performed; location of payment irrelevant
PE = fixed place where biz wholly/party carried: a. place of management b. branch c. office earliest of 1.payment credited to NR’s acc 2.date agreed on agreement 3. Date of invoice
“gains”: reward for duties, can be monetary/non- Capital Income
monetary
d. factory e. warehouse (not in Uk treaty) f. workshop g. farm/plantation h. mine/place of 4. Date of actual payment | late payment 20% penalty on SG payer
Employee POV Allowance NT when: 1.subsistence,
Travelling, conveyance or entertainment 2.which have
Restrictive Salary in lieu of extraction of natural resources i. building/worksite/construction/installation/assembly project
been
Covenant notice of
Expended for biz 3.not prohibited under s15 Payment termination PE = i. supervisory activities in connection with i(above) ii. Has another person acting on behalf Relief from Double Taxation (13m)__ Double Taxation arises when: 1. Country of source
S-plate expenses: Taxable Compensation Reward for past to habitually conclude contracts and secure orders. IRAS exclusion: mere purchasing/ income and country of residence are difference: both countries want to tax the same income 2.
for loss of employment warehousing without trading/rep office for promotion. Dual or multiple residence 3. Deemed Source Rules
Employee POV Reimbursement taxable - personal use office services
Reimbursement of biz expense: NT
Allowance Employee POV Employer POV Bonus is generally taxable 3. Treaty PE= asset/activity/agency (dep-conclude contract on behalf e.g. employee; indep-
24k Housing; 20k to rent 24k taxable 24k deductible Contractual: entitled via contract; tax conducts activities on behalf e.g. distributor) for more than 183 days (more details check treaty) S10(25) Deemed Remittance Rules Co A(sg co) interest income from FD in bank in Country X.
Used to settle amt owing to Co A’s supplier in Country X 
apartment In the year service is rendered Treaty Exclusions: auxiliary activities & subsidiary | Biz profits attributable to SG PE = taxable Remitted/transmitted/brought into SG deemed remitted in SG
12k Travel-10k S plate; 60% 12k taxable 12k deductible Non-contractual: Tax when bonus in SG  Quantify Interest income used to settle amt owing to Co A overseas
biz, 40% private Used to settle a debt incurred in respect of a branch’s supplier  Not deemed remitted in SG
Is paid Locating source of div income – One-tier dividend from SG co  Tax-exempt
12k Travel-10k Taxi; 60% 40%x10k+2k 12k deductible trade carried on in SG (e.g. settle trade debt Dividend income from Country X used to purchase shares in
biz, 40% private Taxable Co X and share scripts were brought back to SG  Not
of SG branch in Country X) deemed remitted into SG. IRAS: Share/share scripts not
Reimbursement
Deemed Source Rules Used to purchase movable property which is then brought into movable property
SG
20k for housing under
employment contract;max24k Step 1: Is Payment to NR covered under S12(6)/S12(7)?
4k petrol S plate car used to NT S15; ND Double Taxation Relief
deliver goods to customers
S12(6) Payment to NR S12(7) Payment to NR
1.5k taxi to attend biz NT deductible interest/commission/guarantee fee Rendering of assistance or service (Show-how) Credit Relief in country of residence; Tax the FSI at gross (Before any FT) FTC for FT suffered
meetings related to loan *exclusion don’t
500 taxi travel to airport on Taxable Deductible; Exemption Relief given in country of source or residence; exemption may be full or partial
vacations staff benefit
Benefit in Kind Taxable value to Employeeapply fortoINTEREST
= cost employer to Provide BIK (add tut stuff)
1.Housing Benefit (Rent-free/subsidised byincome co; notderived
hotel) iffrom
exclude
loansfurnishing;
where +40/50%
Management or assistance in management of Deduction Relief given in country of residence; Tax FSI at net amt
Rent fully furnished = Total rent (Including furnishing) co – Total rent employee the funds provided by such loans trade (Management Fee)
Acquire = AV of property(1.5)(months/year)-rent employee(months) [1.4 partially furnished] are bought or used in SG
2.Rent Car =3/7(rent co+actual running & maintenance costs co) Credit Method Conditions:
right to use any movable property such as IP
Buy car=3/7[(car cost(include COE - PARF rebate)/10 + actual running & maintenance costs co)] (Royalty) ≠Acquire patent – trf of ownership 1.FSI taxable in SG (does not qualify for exemption/forgo exemption)
3.Loan for employee from bank & co pays interest: Taxable 2.FSI subject to FT
use of knowledge (know how)
Loan for employee from employer | avail to all employees, no substantial shares, control: NT 3.Claimant must be SG resident
*exclusion don’t apply
4.Corporate club membership (Entrance/Annual) | avail to all employees: NT 4. Claim must be made not later than 2 years after end of relevant YA (4years wef YA2022 FSI)
Personal club membership: Entrance – Taxable; Annual -Taxable on non-biz use Rent of movable property (equipment) ≠
FTC – via treaty or UTCR (covers all FSI from non-treaty countries)
5.Gain from ESOP to employee taxable when employed in SG (cannot be granted by foreign co) purchase of equipment
=(Open market price of share on exercise date - Price paid for each share) x no. of shares bought *exception may apply but exclusion don’t apply
Step 2: Does it meet conditions? Use flowchart only for Dividend with UT.
Gains from selling share: NT
6. Classical 2 tier: See if FTC covers DWT only
1.Payment Borne by SG Payer (resident or PE in SG) OR 2. Deductible against SG
Residence of Individuals payer’s SSI OR 3. for S12(6), funds provided by loan are brought into or used in SG or both DWT& UT
If FTC covers UT, re-gross dividend
Qualitative Quantitative Step 3: Does exceptions apply for 1.borne by condition?
SG resident/PR NR One-tier: UT. Use flowchart
1.Payment related to biz carried on outside of SG through PE outside SG Full Imputation: No UT, no need flowchart
Normally resides in SG; absence may be temporary Physical presence – at least 183 days in a year
As long as still rooted in SG ½ day in SG counted as 1 day OR 2.Payment related to immovable property situated outside of SG (overseas)
Employment period – at least 183 days in a year
Apply Physical presence only for Non-exec directors
Step 4: Does exclusion apply subject to conditions?
Payment types:
2 yr concession: physical presence or employment Conditions for thoseperiod
for continuous payments:
of at least 183 days
across 2 consecutive years  Resident in both YA (similar for 3 yr concession) Commission fee or other payment 1.Loan/debt-related service, show-how-
Resident Tax Rebates (Excluding interest) related to management fee is performed outside of SG
Set off against tax liability of both parents loan/indebt *service related to Guarantee fee can be FTC Lower of: a)Actual FT suffered on selected FSI
Parenthood rebates – 1st child: 5k, 2nd child: 10k, 3rd child
and above 20k *unabsorbed rebate can c/f performed in SG Source by source or pooling b)ST payable on selected FSI
Personal Relief Tax Rates Guarantee fee related to loan/indebt 2.Service provider/loan guarantor is NR ST= SETR x FSI* (FSI net of deductible expenses. If there is
Deduct against AI Tax liability = CI x Progressive Tax Rate
Overall cap for each YA: 80k CI of 20k or less – tax liabity: BIL Show-how (Exclude know-how) 3.NR is not individual must not be SG incorp approved donationsapportion)
Unabsorbed personal reliefs cannot be c/f Highest marginal tax rate: 22% (till YA2023) Management fee 4.Service/guarantee is not given in course of biz SETR = Tax@17% / Assessable income
e.g. spouse relief, NS relief, relief for CPF top ups Tax Exempt Income: 1. Interest from approved SG banks 2.
Women: working mother’s child relief One-tier dividend 3. Investment income 4. FSI carried in SG by NR and not attributable to any
Non- Resident PE in SG of the NR
5. Recipient of service/guarantee is a SG resident FSIE (Satisfy all conditions below) FTC Pooling
Tax rate – generally 22% e.g. rental income from Less than 60 days s13(6) Exemption
immovable property in SG Exempt SG employment income
or PE in SG FSI received/deemed received in SG Headline Tax at least 15%?
Tax Exempt Income:1. Interest from approved SG banks Short term employment (cannot apply 3 yr concession) Conclusion: If no exception/exclusions apply  Deemed sourced in SG Is FSI DBS? Dividend  paid by NR Co FSI subject to FTC?
2. One-tier dividend 3. Investment income 4. FSI Look at employment period not quantitative period)
Reduced Rate – 10% royalty income; 15% interest inc *Excludes: Non-exec, public entertainers and NR Branch Profit Exclude non-trade from overseas branch
professionals Withholding Tax Obligations – If treaty, always follow the resp article or biz profit article Specified Services income from outside SG through a
>60days but <183 days s40B relief 5 difference b/w NR & R 1.Tax rate 2.Personal relief 3.Tax fixed place of operation in a foreign country
SG employment income taxable - higher of: rebate s13(6) exemption, s40B relief
1.NR basis 15%(no personal relief) S12(6)/(7) Deemed Income WHT Rate SG payer bear WHT Headline Tax at least 15%? | Headline Tax=highest corp tax FSI qualify for FTC? Treat
2.R basis (personal relief +progressive tax rate) Interest and loan related 15% final Reduced rate only apply if NR’s of country or UTCR
Taxation
RentalofofNR Companies
movable property (13m)__
15%Locating
final source of trading income
deemed income is not from a trade in (in the YA FSI is received in SG may not be the actual FT
SG or not connected to PE of NR in SG
1.Case Law criteria Royalty/Know-how 10% final suffered)
Contract Test Operations Test
*but calculation use actual FT rate
Technical fee/Show-how 17% non-final NR can file tax return with IRAS in FSI subject to foreign tax? (UT/SH tax/DWT) FSI subject to SG tax? (If
Country where contracts are negotiated and concluded Country where substantive operations are conducted e.g. relevant YA to claim deductible
Management Fee 17% non-final
marketing/manufacturing operations. – sourced in SG expense and tax refund eligible for FSIE must forgo)
*Substance over approach: essential elements of contracts Auxiliary = purchasing/mere warehousing of goods without
are negotiated & agreed to in SG. Mere formality of trading activities in SG WHT calc = WHT x Gross income (before deduct expense) If not satisfied for FSI, can get ministerial approval
signing contract done overseas – sourced in SG WHT Exemption: 1. Payment to SG branch 2.Treaty may reduce or exempt WHT
Foreign branch profit – may be subject UT and/or DWT | Interest/Royalty subject to WHT, no
Deemed Income Tax Treaty UT (Check WHT in treaty).
Technical fee/consultancy fee/ show-how payment/management fee Business profit/PE article Tax Sparing Relief -under tax treaty (read carefully) TSR not for relieving double tax but as
Income vs Capital_____ Accelerated: 1 year a. Low-value, each<$5k | Max total: $30k; excess claim 2/3 years or normal GST Assumptions 1. Raw material supplier has no input (SP=VA) 2.Product is standard-rated
PMA Test – to see if it is capital in nature; Receipts from disposal/destruction b. Prescribed asset (e.g. computer, computer software) | 1 year: 100%, if eligible for a/b: most supply 3.all biz are GST-reg 4. Full forward shifting of tax
Asset used in income generation as means to produce income; fixed capital: Capital Receipt beneficial
Asses bought and sold to produce income: Circulating Capital: Income Receipt s19B WDA for IP: 1. Legal and economic ownership QE exclude legal fee & reg cost of IPR) Scope of GST

Capital Income
5/10/15 years (if have TWDV, see which duration used if not use 5 years)
Balancing Adjustment SP<TWDV: BA(ded) SP>TWDV: BC(tax)[Max BC = CA claimed] Supply of goods & services Taxable supply … made in SG … made by taxable person (reg
Destruction of PMA: regulated activities & affected Agreement = purely sale of product for GST or req to reg for GST) … made in course or
whole conduct of biz Compensation for loss of trading receipt *If disposed SP=0, SP<TWDV, so BA. Leased P&M, only lessee under finance lease can claim furtherance (include sale of capital assets but exclude private
Contract had a long period to run and termination cause Does not form PMA as he can continue to be agent IBA(before 23.2.10) : Building/structure for qualifying trade | QE: construction $/purchase $ transactions) of taxable person’s biz
to lose entire biz Types of Supply – anything done for consideration
Non-QE: Cost of land, P&M, int exp | IA: 25%, AA: 3% (in use at end of BP) Importation of goods must pay 7% regardless of Into SG by any person | Exceptions: Import GST Relief e.g.
BOT Test – to see if it asset is a trading stock: income in nature; may not need to explain all 6 Not IBA: dwelling hse, retail shop, showroom, office (admin/managerial), hotel whether GST reg Major Exporter Scheme
Import GST collected by custom
Subject Matter of Realisation 1.Asset with ready Period of Ownership short holding-objective of dealing/trading LIA(after 23.2.10): must be approved by EDB | IA: 25%, AA:5% (80% of floor area in use for Imported services
market? 2.Asset acquired in large quantities 3.asset for Long holding- likely for long-term investment
personal enjoyment 4.asset yielding periodic income
trade at end of BP). *Only for disposal for LIA no balancing adjustment. Stop claiming LIA.
Frequency of Similar Transactions frequent -trading Supplementary Work processing/modification/improvement Trf b/w related: s24 election 1.buyer & seller related parties 2.asset used in production of taxable
Circumstances for Realisation exigencies, forced sale Motive profit seeking? Purported motive ≠ Real motive (e.g income before & after trf 3.asset not previously leased by seller to buyer 4.not tax motivated Types of Supply
documentation)1.reasons for purchase and sale 2.Tenure of *does not apply to IBA. Seller: Selling price=TWDV, so no BA/BC. Buyer: claim AA for
loan e.g. Franco
remaining tax life. Factors to consider: 1.tax position of buyer/seller (profit or loss?) OOS -Salary, donation, dividend
-Transfer of biz as going-concern (TOGC)
2.sales give rise to BA (ded) or BC(taxable)? 3.grp want to use BA for trf under GR/CBR?
General Deductions___ General formula: chargeable with tax| wholly| production of income -Supply made by non-GST reg person
-Third Country sale e.g. SG Trader, India warehouse deliver to Japan customer
Pre-commencement/Post cessation exp: ND. Sufficient nexus E.g. Port Elizabeth v CIR -Supply made out of SG e.g. Malaysia warehouse deliver goods SG Co’s customer
Write-back of provision: Not taxable s15 prohibit: 1.priv exp 2.Sum recoverable via insurance or Taxation of Companies (19m)__ Rules for set off: 1. CA 2.TL 3. Approved Donation (FIFO) Exempt -Prescribed financial services e.g. interest from banks in SG, sale of shares/bond to SG buyer,
Contract indemnity 3.s-plate car 4.capital exp w improvement 5.CAPEX CA against trade income then against non-trade income. Non-trade loss cannot set off against SI provision of loan
Provision for repair works under customer warranty: ND | Advance to emp written off: ND Cash Donation to Approved PIC in SG: (-)2.5 x donations against SI (PAY basis) UTL: default -Sale and lease of RESIDENTIAL PROPERTIES (exclude commercial and renta of furnishing)
-supply of investment precious metals
Initial/one-off exp: ND. Subsequent/Annual exp: Ded. Vehicle(Except s-plate): Ded Individual donations: donation of biz asset=PAY. Donation of personal asset=PCY c/f if no c/b or -supply of digital payment token e.g. bitcoin
Interest Expense Acquire shares for investment 1-tier dividend – NT;ND Unabsorbed approved donations (UD): c/f upto 6 years, trf under GR | cannot c/b. GR. Zero rated 0% -Exports of goods
Substitutes: Guarantee/conversion fee, interest rate swap No dividend: ND. FSI dividend not rec in SG: NT;ND CBR: c/f items cannot c/b. 1. c/b to 1 yr 2. c/b amt: lower of current year QD(UCA+UTL) or -international services (transportation of passengers and goods) e.g.air ticket, freight charges for
payment: Ded FSI rec SG: Taxable-Ded against div income. TE:ND exports: services directly in connection with land/building outside SG (e.g.
Acquire a office unit 1.own use; Ded 2. IP: Ded both Grant loan to staff 1. Interest-bearing: Ded against s10(1)(f)
AI of preceding YA 3. Max $100k. *If both CBR & GR elected, do GR first, leftover CBR. agent/architect/surveyor/engineer service for construction/repair/maintenance of any building/land)
against s10(1)(f) Interest-free:Ded Staff Cost *but interest-free from bank ND Conditions UCA: BCT (2 BP) & SHT (50%) UTL/UD: SHT (50%). -International services (contract with person outside of SG
Interest-free interco loan ND a. when service is performed or b. GST registered person belongs in SG and not being services
Trade related Outstanding trade debt, breach of trading Breach of Law to CPF board for late CPF contribution ND which are supplied directly in connection with land/goods in SG other than goods for export
UCA- c/f from YA 2021 To YA 2022
contract, late payment of hire purchase instalment for a Fund working Capital :Ded e.g .marketing services renderd by SG co to its overseas related co
31/12/2021 1/1/2022
biz capital Ded Standard rated 7% All other taxable supplies including supply of capital assets
31 Dec YA 1 Jan YA
UTL/UD – c/f from YA 2021 To YA 2022
Capitalised PPE exp : not in P/L so Ded Others Payout dividends, loan to refinance existing loan, late
31/12/2020 1/1/2022
To finance construction of factory. Factory construction payment of CPF/GST/Imcome Tax  ND
ended before annual interest payment: wholly Ded 31 Dec CY 1 Jan YA
Output and input GST Implications OOS EX T-SR T-ZR
Repairs & Renewals Initial repairs to 2nd hand asset S14(1)(c) (no improvement) Repair (revenue: Ded) UCA – c/b from YA 2022 To YA 2021
Is 7% output tax chargeable on the supply? N N Y N
after purchase If not in usable state until repairs are Replacement: not P&M not those for IBA/LIA 1/1/2022 31/12/2021
Is Input tax on inputs used in making the supply recoverable as input tax credit N* N* Y** Y**
done CAPEX; ND If biz not affected, can still run  e.g. 1.Restructuring of carpets – P&M but not replacement 1 Jan YA 31 Dec YA
*Some exceptions apply | **Provided that other relevant conditions are met
Rev; Ded Consider: only renewal. 2. New windows/doors-Not s14(1)(c) but S14N UTL – c/b from YA 2022 To YA 2021
1.Initial condition 2.Price paid (read) 3.GAAP 3.Replacement of Window -s14(1)(c) Ded 1/1/2021 31/12/2021 Place of supply (Goods: start SG, end types) (Serv: if supp belongs SG)
If previously claimed s14N, can claim s14(1)(c) coz not CA
1 Jan CY 31 Dec YA > Biz/Fixed Establishment in SG, place of residence (place of incorporation)
Bad Debts – Must be: 1.Trade debt related to own biz 2.Claimant’s biz not ceased SHT: anti-avoidance provision to prevent profitable co from buying loss co to use up UTL Time of supply Earlier of: Date on Invoice OR Payment received
3.Debt prev trading receipt (e.g.Dr. Trade Debt Cr.Sales) 3.Proven to be irrecoverable | Waiver of SHT: when <50% apply to CIT. if not granted: UTL permanently disregard Value of Supply Money = Value100 + GST7 | 1. if in FOREX, Use SGD rate at time of supply
general provision based on % on credit Sales: ND. If granted: UTL only set off against income from same trade. Cannot be tax motivated. 2. Open market value if consideration is not wholly monetary or if VOS below market value on
bad debt written off relating to loan to trade supplier: not a trade debt ND
Situation to consider waiver: Nationalisation, privatisation, listing in stock xchange, commercial sale to related party 3. VOS net of discount
Impairment loss on rev acc (inventory/AR): Ded | Recovery/Reversal: Taxable
Tax: 17% R/NR Companies. Partial Exemption: 1st $10k-75%, next $190k-50%=max $102.5k > Trader Absorbed 100% = VOS 93.46% + GST 6.54% (7%)
Compulsory CPF: Ded | Excess/voluntary CPF: ND | *CPF not more than 16% of emp’s income
CIT rate none for YA2021/YA2022. > Value of Import (VOI) = Carriage insurance & freight + custom duty
SG emp>foreign pension scheme: ND | Foreign emp>Foreign pension scheme: Ded
Payment to related emp: Reasonableness Test Passed: ND | Dep of assets: ND GR: 1.Transferor & claimant SG incorp co 2.members of same group (75% SHT on last day of Deposit – 1.partial payment considered supply even if trader refunds dep to cust if order is
Medical Exp: 1% of total income in BP. 2% if portable medical benefit. Any excess: Ded BP) 3. Same accounting YE 4. Election made by both | Members of same grp: >=75% ord shares cancelled: GST chargeable 2.Security Deposit – for safe return of goods, not supply: No GST
Legal fees: for biz: Ded e.g. tender proposal, defend trademark, claim for substandard product in 1 co dir/ind OR >=75% ord shares in each of the 2 cos dir/ind by a third co(holding). If FIC GST registration Compulsory:>1m taxable supplies (Retro: every calendar quarter/Prospect: any
from supplier. BUT fees for advice on feasibility study on setting up factory in Vietnam: ND co disregard: cuts the flow | GR only for current year UCA UTL, UD = QD date) *Exc sales of asset capital assets for this calc only | notify within 30 days
FOREX: underlying transaction CAPEX: NT/ND. Rev: T/Ded e.g. Forex loss on loan taken to Amount to trf: Lower of 1. AI of claimant(profit co) or QD of transferor(loss co). **partnership with same composition of partners +sole proprietor: aggregate taxable supplies
Finance interco loan where you receive interest income ND (don’t ded against s10(1)(f)) Cannot restrict QD to max Partial Exemption Voluntary GST reg: retro/prospect 1.>1m taxable supplies or 2.trader with biz est in SG making
**Taxable Capitalised Income not in P/L: (+) | Exp on non-trade/exempt/non-taxable P/L:(+) only certain OOS supplies | must remain reg for at least two years
Further/Special Deductions__ Further: s14B trade fair/exhibition/overseas trade office or Taxation of Company Distributions__ When SG resident co receive co receive foreign ReprtgPeriod -Submit return wthn 1mth frm end of quarter > Every qtr – Match FY QE
S14C- qualifying R&D Special: s14A: Registration of Patent dividend in SG: 1. Tax exempt or 2. Taxable if it does not qualify exemption/forgo FSIE > Net Payable: pay within 1mth frm end of qrt | Net Claimable: 3mth of filing
S14N – ND under s14(1)(c) not qualified for CA; for QE(does not affect structure) :1.General lightings 2. electrical Input GST claim & Conditions > GST register | IPTax related o Biz input | IP make taxable
biz premises used for trade only installations 3.Fixed partitions 4.False ceilings/cornices
Unabsorbed s14N: treat like trade loss c/f or c/b OR 5.Floorings/Wallpapers 6.Doors, gates,window, window grilles
Corporate Tax Model Integration Gross Dividend Dividend Dividend subject to supply (if exmpt X claim) | Doc evidence | Charged by supplier | Not blocked by Reg26,27 -
Subject to UT? SH(SH pay)/
GR subject to conditions 7.Kitchen fittings, sanitary fittings 8.Hacking/hoarding works
DWT(Co pay)? SportRecre ClubFee|Mdical Exp&Accidnt Insurnce|Fam Benefit|Gamble|S Car GST Admin
9.Canopies/awnings
Non-QE: 1.Designer/professional fees 2.Antiques Rules: 1. Max cap 300k every 3years
Classical two-tier No Gross div declared Yes Yes Reverse Charge: B2B (wholesaler/retailer) – tax service imported by GST-reg person
(2 separate legal entities) out of after tax CI CI taxed twice
3.Works of fine art(painting, calligraphy, sculptures YA2021 & YA2022: 1 year claim (still max: 300k)
e.g. (gross-700)
GST-reg Partial Exempt Trader: acc for output GST, claim partial Input GST | Non-GST reg
4.structural changes where approval is required trader: 1.>1mil imp svc in 12months &2. partial input GST recovery  Reg under RC regime
Full Imputation Full CT imputed Gross div declared No Yes
Installation of window grilles of condo owned by co but given to emp under contract: ND
Co is artificial entity through back to SH as out of before tax CI taxed once at and acc for output GST on both taxable supples and imp svc from overseas suppliers.
which individuals (SH) imputed credit. CI CI SH level
Capital Allowance___ Plant: 1.Stock-in-trade 2.Business-use 3.Premise conduct economic activities, taxed once at SH e.g. (gross-1000) OVR: B2C – tax digital svc(apps, ebooks, music ,software, firewall) imp by non-GST reg
IA: Incur basis AA: In use basis Income of co and dividends level (no UT). persons | 1.annual global turnover>1mil on taxable supplies & 2.makes B2C supplies of dig svc
paid are same source of
S19/S19A WTA for P&M: installation cost +delivery cost + exchange loss (exclude int exp) income to non-GST reg cust in SG >$100k Reg under OVR and acc for output GST on supplies of dig
Normal: 1.IA 20% x QE (cannot defer) 2.AA=80% x QE/Tax life (can defer) One-tier (Middle) Gross Div paid to Yes No svc to non-GST reg cust in SG
Accelerated: 3 years (if no tax life); AA =1/3 of QE incurred in BP (can defer) SH is Tax exempt CI taxed once
for SH at co level
Deemed Supplies: biz goods for free or biz goods given for non-biz use Market value =value of
Accelerated: 2 years (YA2021 & YA2022) AA y1= 75%, AA y2 = 25% (cannot defer) e.g. (gross-700) deemed supply. input GST=output GST IRAS gives no refund | Deemed output tax not req
conditions: 1. Cost <$200(exc GST) 2. Input GST not claimed(forgoes GST claim, Blocked
Goods & Services Tax (9m)__ Input, Goods not subject to GST: non-gst reg supplier, goods is EX supply) | Deemed output tax
not req: free hotel acc, boarding house of similar est to employees only, free food to employees,
Output tax Input tax