Singapore legislation
Regulation 93D
Regulation 93D
Unredeemed balance of vouchers
Unless the Comptroller otherwise allows, for the purpose of regulation 93B(1) and (2)(b), where the whole or any part of the value of any voucher can no longer be redeemed, and where the issuer was a taxable person at the time of the supply of the voucher, tax shall be chargeable on the supply by the issuer of the voucher as follows:
(a)
the time of the supply shall be when —
(i)
the voucher can no longer be redeemed; and
(ii)
the issuer accounts for the unredeemed value of the voucher in his statement of income; and
(b)
the value of the supply shall be the unredeemed value of the voucher so accounted for in his statement of income.