28 July 2017
The Singapore government is reviewing whether to extend its Goods and Service Tax (GST) system to cover digital services supplied by non-resident (foreign) companies.
At present, foreign businesses providing digital goods and services in Singapore do not have to charge GST on their sales. However, in an effort to remove the unfair advantage that this gives to non-resident companies over Singapore’s resident providers, the Singapore government is currently deciding whether to implement GST at 7% on the these types of transactions.
If implemented this new tax will likely apply to a range of electronic services including streaming games, music, apps, films, e-books, e-journals and internet services.
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