No. S 394
Goods and Services Tax Act
(Chapter 117A)
Goods and Services Tax (General) (Amendment) Regulations 2006
In exercise of the powers conferred by section 86(1) of the Goods and Services Tax Act, the Minister for Finance hereby makes the following Regulations:
Citation and commencement
1.  These Regulations may be cited as the Goods and Services Tax (General) (Amendment) Regulations 2006 and shall come into operation on 1st July 2006.
Deletion and substitution of regulation 44
2.  Regulation 44 of the Goods and Services Tax (General) Regulations (Rg 1) is deleted and the following regulation substituted therefor:
Goods removed from bonded warehouse by persons approved under Major Exporter Scheme or Third Party Logistics Company Scheme
44.—(1)  Without prejudice to regulation 100(3), a person who holds a licence for a bonded warehouse under regulation 94 (referred to in this regulation as the warehouse licensee) may allow goods which are subject to a warehousing regime to be removed from the warehousing regime without payment of tax if —
(a)the person removing the goods is a person who has been granted approval under regulation 45 or 45A; and
(b)the person is entitled to take possession of the goods.
(2)  Notwithstanding regulation 100(4), where there is any deficiency in quantity that is indicated or ought to be indicated in the record of stock or inventory maintained in the bonded warehouse, the warehouse licensee shall not be liable for tax chargeable on so much of the goods as he is able to show were removed by a person whom he had verified to be a person referred to in paragraph (1)(a) and (b).
(3)  A verification referred to in paragraph (2) shall be carried out in such manner as the Comptroller may require.”.
New regulation 104A
3.  The Goods and Services Tax (General) Regulations are amended by inserting, immediately after regulation 104, the following regulation:
Acquisition by real estate investment trust
104A.—(1)  A taxable supply of immovable property made by any person to the trustee of a real estate investment trust that —
(a)is listed on the Singapore Exchange; or
(b)is to be listed on the Singapore Exchange —
(i)within one month from the time of the supply; or
(ii)within such longer period, and on such terms and conditions, as the Comptroller may specify,
shall be a prescribed supply for the purposes of section 38(5) of the Act.
(2)  In this regulation, "real estate investment trust" means a trust that is constituted as a collective investment scheme authorised under section 286 of the Securities and Futures Act (Cap. 289) and that invests or proposes to invest in immovable property or immovable property-related assets.”.
[G.N. Nos. S 261/2002; S 427/2002; S 648/2002; S 182/2003; S 316/2003; S 627/2003; S 237/2004; S 728/2004; S 729/2004; S646/2005]

Made this 28th day of June 2006.

Permanent Secretary,
Ministry of Finance,
[MF R60.001.0013 Vol. 26; AG/LEG/SL/117A/2002/2 Vol. 2]
(To be presented to Parliament under section 86(2) of the Goods and Services Tax Act).