Fiscal Representative and Section 33(1) Agent
33(1) agent and Fiscal representative
For foreign companies supplying goods in Singapore, there will be a liability to register for GST in Singapore if the taxable turnover exceeds SGD 1 million in a year.
In order for foreign companies to register for GST in Singapore, the Inland Revenue Authority of Singapore requires the foreign company to appoint a local agent pursuant to section 33(1) of the GST Act (i.e. also known as the section 33(1) agent) when applying for GST registration in Singapore.
Akin to the fiscal representative in the European countries, the section 33(1) agent is appointed to act on the company’s behalf for all GST matters in Singapore (including accounting for and payment of GST).
Contact us to learn about our services as a section 33(1) agent.
A short excerpt: As it is, when an overseas person (without any establishment in Singapore) is registerable for GST in Singapore, the overseas person will need to appoint a section 33(1) agent in Singapore (akin to a fiscal representative for VAT in Europe) to assume all the GST responsibilities of the registered overseas person, including the reporting and payment of GST due.
In practice, when the overseas person imports goods into Singapore, the UEN number and the details of the appointed section 33(1) agent will be used for import clearance. However, for controlled goods, the section 33(1) agent may not have the necessary authorization or license to import controlled goods. Without the revision to the e-tax guide, the overseas person would have to seek approval from Singapore Customs to use the UEN and import license of another local person (also known as non-section 33(1) agent) to import the controlled goods.