Overseas Vendor Registration (OVR) Regime for Electronic Marketplace Operators |
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Refer to IRAS E- Tax guide 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. 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. 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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