The IRAS has updated their GST e-tax guide on transfer of business as a going concern on 30 December 2019.
This is merely an editorial update to include the supply of digital payment token as an exempt supply (paragraph 3.3) with effect from 1 January 2020 and the use of such digital payment token as payment for goods and services to be an excluded transaction (paragraph 14).
No changes to the conditions to treat the sale of business as a going concern to be an excluded transaction for GST purposes.
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