IRAS Provides Guidance on Need to Account for Output GST on Common Fringe Benefits

The Inland Revenue Authority of Singapore (IRAS) has updated its guide on Employee fringe benefits. When an employer provides fringe benefits to its employees, it is making a supply and may need to account for output GST on the value of the benefits, which is the focus of the guide. The main update to the guide is a new section on common fringe benefits, including whether output tax must be accounted for, summarized as follows:

Accommodation & Household Benefits:

• Non-residential prope…