Extension of VAT Borne by the Government Incentives for Supplies of Landed Houses and Flats

The government has recently re-extended VAT borne by the government incentives for supplies of landed houses and flats until December 2021. On another note, incentives in the form of VAT borne by the government are also provided for supplies of shophouse rental services to retailers. In addition to VAT incentives, this edition also outlines other recent regulations, such as the stipulation of types of taxable goods other than motor vehicles subject to Sales Tax on Luxury Goods and changes to the format of tax calculation memos, notices of tax assessment, and tax invoices. Other engaging new regulations are also reviewed in this edition of the newsletter.

Contents

• Extension of VAT Borne by the Government Incentives for Landed Houses and Flat Units
• VAT Borne by the Government Incentives for Rental of Commercial Space or Buildings to Retailers
• New Provisions on STLGs on Luxury Goods Other Than Motor Vehicles
• Implementation and Accountability Mechanism of Taxes Borne by the Government in the Context of Covid-19
• New Provisions on the Format, Type, Code, and Size of the Forms for Tax Calculation Memos, Notices of Tax Assessment, and Notices of Tax Collection
• August 2021 Interest Penalties and Compensation Interest Rates
• New Provisions on the Deadline for the Preparation and Implementation of Face-to-Face Trial Proceedings