Singapore legislation
Regulation 93B
Regulation 93B
Supply of vouchers by issuer
Subregulation 1
Subject to regulations 93E and 93F, where any voucher is supplied by an issuer for a consideration that is equal to or less than the value of the voucher, the consideration shall be disregarded for the purposes of the Act except to the extent that regulation 93D applies.
Subregulation 2
Subject to regulations 93E and 93F, where any voucher is supplied by an issuer for a consideration that is more than its value, where the issuer is a taxable person at the time of the supply of the voucher, tax shall be chargeable on the supply of the voucher by the issuer of the voucher as follows:
in the first instance, at the time the voucher is supplied, on the amount by which the consideration for the supply exceeds the value; and
thereafter, in accordance with regulation 93D (where it applies).