Overseas Vendor Registration (OVR) Regime for Electronic Marketplace Operators

 Refer to IRAS E- Tax guide
 
Realtimme Cloud allows GST-registered businesses that are subject to reverse charge to record and produce accurate listings of reverse charge transactions.

With effect from 1 Jan 2020, GST will apply to imported digital services in the context of business-to-consumer18 transactions (“B2C”) by way of an overseas vendor registration regime. 
Local and overseas operators of electronic marketplaces will be regarded as the suppliers of B2C digital services made through the marketplaces, on behalf of third-party suppliers, when certain conditions are met.

In such cases, the marketplace is required to add the value of these services to the supplies it directly makes to determine its GST registration liability. 
If the marketplace is liable for GST registration or is already GST-registered, it is required to charge and account for GST on B2C supplies of digital services made through its marketplace to

customers in Singapore on behalf of the overseas suppliers, in addition to the B2C supplies of digital services it directly makes.
 

Realtimme Cloud allows GST-registered electronic marketplaces to record

and produce accurate listings of digital services transactions.

Tax code [SRRC] and [SROVR] is added in the Tax table. No action is required by user

Realtimme Cloud allow GST-registered businesses that are subject to reverse charge to record and produce accurate listings of reverse charge transactions.

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