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Simplified Conditions for Deeming Output Tax on Gifts

On 1 October 2012, IRAS released a plethora of changes and updates on GST. The changes are largely to take into account legislative changes. One noteworthy change which has the biggest impact on businesses relates to GST & Gifts. And it is GOOD NEWS! Prior to 1 October 2012 When goods are given away for free (e.g. gifts to customers such as mooncakes and hampers), you are treated as making a supply to the recipient of the gift. As the gift is given for free, you need not char