The Inland Revenue Authority of Singapore has published an updated version of its e-Tax Guide, GST: Customer Accounting for Prescribed Goods. The guide explains how businesses apply customer accounting for transactions in prescribed goods, including mobile phones, memory cards, and off-the-shelf software. This was implemented from 1 January 2019 to deter fraud schemes involving prescribed goods where the seller absconds with the GST collected, but businesses further down the supply chain continue to claim the input tax Under customer accounting, the responsibility to account for output tax on sales shifts from the supplier to the customer. Customer accounting requirements apply...