s 17 Value of supply of goods or services
17.—(1) For the purposes of this Act and subject to the Third Schedule, the value of any supply of goods or services is determined in accordance with this section. (2) If the supply is for a consideration in money, its value is taken to be such amount as, with the addition of the tax chargeable, is equal to the consideration.[52/2018] [Act 34 of 2021 wef 01/01/2022] (2A) Subsection (2) does not apply to the following:(a) a supply from which a reverse charge supply arises; (b) a supply which a redeliverer is treated as making under the Seventh Schedule.[Act 34 of 2021 wef 01/01/2022] (3) If the supply (including a supply mentioned in subsection (2A)(a) or (b)) is not for a consideration or is for a consideration not consisting or not wholly consisting of money, the value of the supply is taken to be its open market value.[52/2018] [Act 34 of 2021 wef 01/01/2022] (3A) A reverse charge supply has a value that is of an amount equal to the consideration for the distantly taxable goods or services in fact supplied that gave rise to the reverse charge supply.[52/2018; 33/2019] [Act 34 of 2021 wef 01/01/2022] (3AA) Where a reverse charge supply arises from a supply of distantly taxable goods or services mentioned in section 14(1)(a) or (b) or such supply made by a member of the group mentioned in section 30(1A), then, for the purpose of determining the value of the reverse charge supply, any amount required to be withheld as tax under the Income Tax Act 1947 must not, if included in the consideration for the supply in fact made, be deducted.[33/2019] [Act 34 of 2021 wef 01/01/2022] (3B) Where the reverse charge supply of a recipient arises from —(a) a supply of services mentioned in section 14(1)(b)(ii); or[Act 34 of 2021 wef 01/01/2022] (b) a supply of services mentioned in section 30(1A), then, for the purpose of determining the value of the reverse charge supply, any of the following that is included as part of the consideration for the services in fact supplied may be deducted: (c) any salary or wages relating to the employees of (as the case may be) the branch or member of the group outside Singapore making the supply of services; (d) interest; (e) any proportionate amount of mark-up in respect of such salary or wages and interest in paragraphs (c) and (d), respectively.[52/2018; 33/2019] (3C) For the purposes of the application of the Third Schedule, where the reverse charge supply arises from a supply of distantly taxable goods mentioned in section 14(1)(a)(ii) or a supply of services mentioned in section 14(1)(b)(ii), the branches mentioned in section 14(1)(a)(ii) or (b)(ii) (as the case may be) are treated as persons connected with each other.[52/2018] [Act 34 of 2021 wef 01/01/2022] (3D) A Seventh Schedule supply of goods treated as made by a redeliverer has a value that is equal to the consideration paid for the goods by the customer.[Act 34 of 2021 wef 01/01/2022] (4) Where a supply of any goods or services (including a supply mentioned in subsection (2A)(a) or (b)) is not the only matter to which a consideration in money relates, the supply is deemed to be for such part of the consideration as is properly attributable to it.[52/2018] [Act 34 of 2021 wef 01/01/2022] (4A) Where a person makes a supply of related services to a customer of a Seventh Schedule supply of goods in relation to that supply of goods, the consideration for the related services is to be included as part of the consideration for the Seventh Schedule supply of goods if —(a) the consideration for the supply of the related services is determined by reference to those goods; (b) the supply of the related services is made, arranged or assisted by the supplier or underlying supplier of those goods; (c) the supply of the related services is directly in connection with those goods; (d) the supply of the related services would be zero-rated under section 21 in the absence of this subsection; and (e) the supply of the related services and those goods do not form a single supply.[Act 34 of 2021 wef 01/01/2022] [Act 35 of 2022 wef 01/01/2022] (4B) Subsection (4A) does not apply to a redeliverer that is treated as making a supply of goods under the Seventh Schedule.[Act 34 of 2021 wef 01/01/2022] (4C) Where a reverse charge supply arises from a supply of distantly taxable goods mentioned in section 14(1)(a) and the recipient also receives a supply of related services, the consideration for the related services is to be included as part of the consideration for the supply of the distantly taxable goods if —(a) the consideration for the supply of the related services is determined by reference to those goods; (b) the supply of the related services is made, arranged or assisted by the supplier of those goods; (c) the supply of the related services is directly in connection with those goods; (d) the supply of the related services would, if the supply of the services were made by a taxable person in Singapore, be a supply of international services which is zero-rated under section 21 in the absence of this subsection; and (e) the supply of the related services and those goods do not form a single supply.[Act 34 of 2021 wef 01/01/2022] (5) For the purposes of this Act, the open market value of a supply of goods or services is taken to be the amount that would fall to be taken as its value under subsection (2) if the supply were for such consideration in money as would be payable by a person who has no relationship with any person which would affect that consideration. (6) The Minister may by order amend the Third Schedule and provide for the determination of the value of a supply of goods or services otherwise than in accordance with this section. (7) In this section —“redeliverer” and “underlying supplier” have the meanings given by paragraph 1(1) of the Seventh Schedule; “related services”, in relation to a Seventh Schedule supply of goods or a supply of distantly taxable goods that gives rise to a reverse charge supply, means the services supplied by any person (whether or not the supplier or underlying supplier of the goods) for the purposes of —(a) processing and preparing the goods for transportation and delivery; and (b) delivering the goods, or arranging or assisting in the delivery of the goods, including insurance and transportation.[Act 34 of 2021 wef 01/01/2022] [Act 35 of 2022 wef 01/01/2022]