Overseas businesses that sell goods via post or courier or provide remote services to customers in Singapore will need to take note of two recent IRAS e-tax guides on the collection of GST on imported low-value goods and remote services via the Overseas Vendor Registration (OVR) regime. The new rules will come into effect on 1 January 2023, giving affected businesses time to familiarise themselves with these new rules.

GST: Taxing imported low-value goods by way of the overseas vendor registration regime (First Edition)

This guide explains the features of the overseas vendor registration regime for imported low-value goods (“LVG”), and the related GST registration and reporting rules. It also covers the compliance guidelines, as well as the transitional rules applicable to transactions spanning the implementation of the registration regime on 1 Jan 2023.

GST: Taxing imported remote services by way of the overseas vendor registration regime (First Edition)

This guide explains the features of the extended overseas vendor registration regime for imported remote services, and the related GST registration and reporting rules. It also covers the compliance guidelines, as well as the transitional rules applicable to supplies of remote services spanning the implementation of the registration regime on 1 Jan 2023.