Digital Services

This article is for:

• ABSS Premier v23.2 and above
• ABSS Accounting v28.2 and above

Digital services are defined as services that are supplied over the internet or an electronic network that require minimal or no human intervention, and are impossible without the use of information technology.

Under the  Singapore’s Overseas Vendor Registration (OVR) regime, overseas digital service providers with a yearly global turnover of more than S$1 million that sell more than S$100,000 worth of digital services to customers in Singapore in a 12-month period are required to register for GST under OVR regime, and will be charging GST on their sales of digital services to Singapore consumers with effect from 1 Jan 2020.

How to record Digital services in ABSS Software

Please note that for Digital services, oversea service provider/user is only provided with the platform (such as mobile apps, ebook and movie) and it does not consider as our sale.

Scenario: Mr John Tan use our platform to sell mobile apps. The Value of mobile apps is $200. 

1) To record the transaction using ABSS software, kindly go to Banking > Received Money.

Debit : Bank $214                                                                                                                                              Credit : Collection on behalf supplier( Liability) $200 & GST Collected $14.

2) $200, the platform needs to pay to supplier and another $14 needs to pay to IRAS. 

3) Generate the GST F5 report and the SROVR will appear in box 1,6 and 15.

P/S: Please note SROVR is not our income, so the 200 amount will not include in box 13 total revenue.