Goods and Services Tax (Excluded Transactions) (Amendment) Order 2000

Status:

Published in Subsidiary Legislation Supplement
on 14 Apr 2000

No. S 203

Goods and Services Tax Act

(Chapter 117A)

Goods and Services Tax (Excluded Transactions) (Amendment) Order 2000

In exercise of the powers conferred by sections 10(3) and 86(1) of the Goods and Services Tax Act, the Minister for Finance hereby makes the following Order:

Citation and commencement

1. This Order may be cited as the Goods and Services Tax (Excluded Transactions) (Amendment) Order 2000 and shall come into operation on 15th April 2000.

New paragraph 4

2. The Goods and Services Tax (Excluded Transactions) Order (O 2) is amended by inserting, immediately after paragraph 3, the following paragraph:

“Transfer or assignment of title to goods

4.—(1) Where a provider of hire-purchase finance transfers or assigns his title to goods comprised in a hire-purchase agreement together with the hire-purchase finance relating to such goods, the transfer or assignment of title shall be treated as neither a supply of goods nor a supply of services.

(2) For the purpose of sub-paragraph (1), “hire-purchase finance” means the instalment credit finance in a hire-purchase agreement.”.

Made this 13th day of April 2000.

EDDIE TEO

Permanent Secretary,
Ministry of Finance,
Singapore.

[MF(R) R60.1.0013 Vol. 14; AG/LEG/SL/117A/97/4 Vol. 2]

(To be presented to Parliament under section 86(2) of the Goods and Services Tax Act).

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