Question Singapore GST for US Amazon Associates Income

[Roamer]

Most of my LTD's revenue come from :

1. affiliate commissions (e.g., US Amazon mostly)
2. advertisers (e.g., US mediavine, US adsense)
3. own products

Whilst the revenue is over GBP 200,000 currently, the VAT-scoped revenue is very low and therefore in the UK, the company is not liable for VAT.

Planning to relocate both the company and myself to Singapore, I wanted to ask for some pointers about Goods & Services Tax there. Would these transactions be liable to the 7% GST tax, or not?

Speaking to a Singaporean accountant in a few weeks, just gathering as much info as possible until then.

R.

 

[netixone]

Registering for GST is compulsory when:

• the turnover of your business is more than S$1 million in the past 12 months – known as the retrospective basis OR
• you are currently making sales and you can reasonably expect the turnover of your business to exceed S$1 million for the next 12 months – known as the prospective basis. This includes any agreements / contracts that you have signed and expected revenue for you in the next 12 months exceed S$1 million.

When your revenue exceed S$1 million, you will need to submit the GST application to IRAS within 30 days. Failure to register your business with IRAS within the stipulated time frame will result in penalties. There are anti-avoidance provisions to ensure that entities are not established merely to keep turnovers less than the threshold and thereby avoid registration.

Source: Singapore Goods & Services Tax Guide