Singapore: Implemented Singapore 2021 Budget containing indirect taxation measures

On 1 January 2020, the measure on online advertisement contained in the Budget 2021 is implemented by the Singapore Parliament. The Budget changes how the tax base for the supply of media space for web advertising is calculated. In particular, it establishes that if the contractual customer of the advertisement resides outside of Singapore and the direct beneficiary is also established outside of Singapore, there shall be tax consequences. Otherwise, if the contractual customer does live in Singapore, the sale of advertisements will be standard-rated.