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Singapore Updates Fringe Benefits GST Guide

by Mary Swire, Tax-News.com, Hong Kong

20 May 2016


The Inland Revenue of Singapore has released an update to its guide on the goods and services tax treatment of fringe benefits.

The guide explains how GST-registered persons should account for goods and services provided to employees as fringe benefits. Specifically, it explains how to recover GST incurred on fringe benefits and whether to account for GST when these benefits are given free to employees.

The guide has been revised to provide further clarification on the business purpose condition for input tax claims and to explain how to account for output tax on business assets put to use by a taxable person's employees.

TAGS: VAT tax authority guidance | tax | business | value added tax (VAT) | accounting | fringe benefits | employees | goods and services tax (GST) | Singapore | tax authority | services

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