therock Supersonic November 22, 2017 Share November 22, 2017 Bad news for online shoppers.. http://www.straitstimes.com/business/economy/customers-might-have-to-pay-tax-on-goods-and-services-bought-online SINGAPORE - Goods and services tax (GST) could soon be levied on e-commerce purchases as the Government looks to diversify its tax base and capture value from this fast-growing sector, experts said. This could mean getting big e-commerce players to register for GST here if they sell to Singapore consumers, or getting the customers themselves to pay tax on the goods and services they buy online. Their comments come after Senior Minister of State for Law and Finance Indranee Rajah said in an interview with Bloomberg on Tuesday (Nov 21) that e-commerce will likely come under the local tax regime soon. "You can imagine, 20 years from now, the way people purchase is very different and by that time online platforms will be mainstays, so if that's not part of the tax regime, there's going to be a lot of holes there," she said. Finance Minister Heng Swee Keat said in the Budget earlier this year too that the Government was studying ways to tax e-commerce. Currently, online purchases of goods and services under $400 are not taxed in Singapore. "The $400 GST exemption threshold could be reviewed for the purposes of capturing online shopping transactions," said KPMG Singapore's head of tax, Mr Chiu Wu Hong. ↡ Advertisement 1 Link to post Share on other sites More sharing options...
Mustank Hypersonic November 22, 2017 Share November 22, 2017 Link to post Share on other sites More sharing options...
Gnahp Supercharged November 22, 2017 Share November 22, 2017 lights on, the party is over... 1 Link to post Share on other sites More sharing options...
DACH Supersonic November 22, 2017 Share November 22, 2017 Those who voted for this, better wake up. Better. Link to post Share on other sites More sharing options...
Jungus 4th Gear November 22, 2017 Share November 22, 2017 Those who voted for this, better wake up. Better. ?? 1 Link to post Share on other sites More sharing options...
kdash Supersonic November 22, 2017 Share November 22, 2017 i like the name of the KPMG guy... Currently, online purchases of goods and services under $400 are not taxed in Singapore. "The $400 GST exemption threshold could be reviewed for the purposes of capturing online shopping transactions," said KPMG Singapore's head of tax, Mr Chiu Wu Hong. 1 Link to post Share on other sites More sharing options...
Ash2017 Twincharged November 22, 2017 Share November 22, 2017 I can't imagine the windfall for our tax department. In Single's day, a total of about US$25 BILLION transaction were made. If we apply 7% GST....... May be, our G is looking for ways to help us get free COE. 2 Link to post Share on other sites More sharing options...
Mustank Hypersonic November 22, 2017 Share November 22, 2017 I can't imagine the windfall for our tax department. In Single's day, a total of about US$25 BILLION transaction were made. If we apply 7% GST....... May be, our G is looking for ways to help us get free COE. there are easier ways to make money 2 Link to post Share on other sites More sharing options...
Nhyone 4th Gear November 22, 2017 Share November 22, 2017 Online shopping has been a tax loophole for so long, just enjoy it while it lasts. Hopefully the exemption threshold isn't lowered drastically to S$50. 4 Link to post Share on other sites More sharing options...
Ysc3 Twincharged November 22, 2017 Share November 22, 2017 Those who voted for this, better wake up. Better. if anyone can provide another better - "confirmed + chop" - alternative, i am game for it. else, no point harping on this. anyway, i wonder how they will tab the taxes ? by name ? by address ? 1 Link to post Share on other sites More sharing options...
Kusje Supersonic November 23, 2017 Share November 23, 2017 if anyone can provide another better - "confirmed + chop" - alternative, i am game for it. else, no point harping on this. anyway, i wonder how they will tab the taxes ? by name ? by address ? Confirm plus chop alternative I cannot provide. But I can confirm plus chop that we are going down hill. Link to post Share on other sites More sharing options...
Kusje Supersonic November 23, 2017 Share November 23, 2017 Bad news for online shoppers.. http://www.straitstimes.com/business/economy/customers-might-have-to-pay-tax-on-goods-and-services-bought-online Fret not. Still got JB Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 23, 2017 Share November 23, 2017 It's not if, is when. Even alipay cannot escape from their gov. Anything that involve money and transaction, the gov is always paying attention. With online sales turnover of 11/11 printed big big everywhere, no need a scholar or CPA to tell where the tax money is. Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 23, 2017 Share November 23, 2017 Those who voted for this, better wake up. Better. There will be no tax if nobody vote for this? Link to post Share on other sites More sharing options...
Tianmo Hypersonic November 23, 2017 Share November 23, 2017 Confirm plus chop alternative I cannot provide. But I can confirm plus chop that we are going down hill. So how to go uphill? Link to post Share on other sites More sharing options...
Wt_know Supersonic November 23, 2017 Share November 23, 2017 (edited) screw it ... buy online and deliver to JB post box ... weekend go JB ... pick up makan wash car massage plus pump petrol ... lol Edited November 23, 2017 by Wt_know Link to post Share on other sites More sharing options...
DACH Supersonic November 23, 2017 Share November 23, 2017 There will be no tax if nobody vote for this?And where will be the taxes go to?What's the point of taxing more if the current taxpayers' monies aren't put into good use anyway? Link to post Share on other sites More sharing options...
kdash Supersonic November 23, 2017 Share November 23, 2017 Online shopping has been a tax loophole for so long, just enjoy it while it lasts. Hopefully the exemption threshold isn't lowered drastically to S$50. time to whack during Black Friday... ↡ Advertisement Link to post Share on other sites More sharing options...
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