Goods and Services Tax (General) (Amendment No. 2) Regulations 2006

No. S 673

Goods and Services Tax Act

(Chapter 117A)

Goods and Services Tax (General) (Amendment No. 2) Regulations 2006

In exercise of the powers conferred by sections 41 (1)(a) and (4)(ba) and (e) and 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 No. 2) Regulations 2006 and shall come into operation on 1st January 2007.

Amendment of regulation 16

2. Regulation 16(1) of the Goods and Services Tax (General) Regulations (Rg 1) (referred to in these Regulations as the principal Regulations) is amended by deleting the words “or from time to time” and substituting the words “and is attributed to separate periods of the term of the licence, tenancy or lease”.

Amendment of regulation 41

3. Regulation 41 of the principal Regulations is amended —

(a)

by deleting paragraph (1) and substituting the following paragraph:

“(1) Where any land, being —

(a)	vacant land; or
(b)	land on which any building is to be demolished,

is supplied to a taxable person, and it appears to the Comptroller that —

(i)	the land is to be developed (including by the construction of any building thereon); and
(ii)	some part or the whole of the land so developed is to be used in the making of exempt supplies,

the Comptroller may allow to be attributable to taxable supplies such part of the input tax incurred by the taxable person in respect of the supply to him of the land as bears the same proportion to the whole of that input tax as the value of the area of the developed land to be used in the making of exempt supplies bears to the value of the total area of the developed land.”;

(b)

by inserting, immediately after paragraph (3), the following paragraph:

“(4) In this regulation, “exempt supplies” means the exempt supplies referred to in paragraph 2 of the Fourth Schedule to the Act (read with paragraph 4(3) of that Schedule).”; and

(c)

by deleting the regulation heading and substituting the following regulation heading:

“Input tax for land to be used for making exempt supplies”.

New regulation 53

4. The principal Regulations are amended by inserting, immediately after regulation 52, the following regulation:

“Submission of returns through electronic service

53.—(1) Every taxable person who is first registered under the Act on or after 1st January 2007 shall make and submit through the electronic service every specified return which he is required to furnish.

(2) Every taxable person (not being a taxable person referred to in paragraph (1)) who, during all of his prescribed accounting periods ending in the calendar year 2005 collectively, makes supplies in Singapore which have a total value of more than $5 million shall, with effect from 1st January 2007, make and submit through the electronic service every specified return which he is required to furnish.

(3) Every taxable person (not being a taxable person referred to in paragraph (1)) who, during all of his prescribed accounting periods ending in the calendar year 2005 collectively, makes supplies in Singapore which have a total value of not less than $2 million but not more than $5 million shall, with effect from 1st April 2007, make and submit through the electronic service every specified return which he is required to furnish.

(4) Notwithstanding paragraphs (1), (2) and (3), the Comptroller may allow any taxable person to make and submit any specified return otherwise than through the electronic service in such exceptional circumstances as the Comptroller thinks fit.

(5) In this regulation, “specified return” means —

(a)	any return required to be furnished under regulation 52(1); or
(b)	any final return required to be furnished under regulation 52(2).”.

Deletion and substitution of regulation 66

5. Regulation 66 of the principal Regulations is deleted and the following regulation substituted therefor:

“Correction of errors

66.—(1) Subject to this regulation, if any person makes any error in accounting for tax or in any return furnished under these Regulations, he shall correct that error in such manner and within such time as the Comptroller may require.

(2) Every taxable person who is first registered under the Act on or after 1st January 2007 shall, if he makes any error referred to in paragraph (1), correct that error by submitting through the electronic service such information within such time as the Comptroller may require.

(3) Every taxable person (not being a taxable person referred to in paragraph (2)) who, during all of his prescribed accounting periods ending in the calendar year 2005 collectively, makes supplies in Singapore which have a total value of more than $5 million shall, if he makes any error referred to in paragraph (1), with effect from 1st January 2007, correct that error by submitting through the electronic service such information within such time as the Comptroller may require.

(4) Every taxable person (not being a taxable person referred to in paragraph (2)) who, during all of his prescribed accounting periods ending in the calendar year 2005 collectively, makes supplies in Singapore which have a total value of not less than $2 million but not more than $5 million shall, if he makes any error referred to in paragraph (1), with effect from 1st April 2007, correct that error by submitting through the electronic service such information within such time as the Comptroller may require.

(5) Notwithstanding paragraphs (2), (3) and (4), the Comptroller may allow any taxable person referred to in paragraph (2), (3) or (4) to correct any error referred to in paragraph (1) by submitting information otherwise than through the electronic service in such circumstances as the Comptroller thinks fit.”.

Amendment of regulation 94

6. Regulation 94 of the principal Regulations is amended by inserting, immediately after paragraph (1), the following paragraph:

“(1A) A licence referred to in paragraph (1) may be issued in respect of one or more bonded warehouses.”.

Amendment of regulation 100

7. Regulation 100 of the principal Regulations is amended by deleting paragraph (2) and substituting the following paragraph:

“(2) Every licensee shall, not later than the 5th day of each month or such later day as the Comptroller may allow, furnish to the Comptroller a return, in such form and containing such information as the Comptroller may require, relating to all goods received into or removed from his bonded warehouse for the whole of the preceding month.”.

Amendment of regulation 102

8. Regulation 102 of the principal Regulations is amended —

(a)	by deleting the words “revoke any licence issued under regulation 94” and substituting the words “revoke or suspend any licence issued under regulation 94 in respect of any one or more of the bonded warehouses referred to in the licence”; and
(b)	by inserting, at the end of the regulation heading, the words “or suspension of licence”.

Amendment of regulation 108

9. Regulation 108 of the principal Regulations is amended by inserting, immediately after “51,”, the words “53 (1), (2) or (3),”.

Amendment of Schedule

10. The Schedule to the principal Regulations is amended —

(a)

by deleting paragraphs 2 and 3 and substituting the following paragraphs:

“

2. Bonded warehouse licence granted to a licensee, where the average value of all goods stored in all the warehouses to which the licence relates in the period of 12 months immediately preceding the date of application for or renewal of the licence, as the case may be, is more than $1 million but less than $5 million

$2,500
per annum

3. Bonded warehouse licence granted to a licensee, where the average value of all goods stored in all the warehouses to which the licence relates in the period of 12 months immediately preceding the date of application for or renewal of the licence, as the case may be, is $5 million or more

$4,000
per annum

”; and

(b)

by deleting sub-paragraph (b) of paragraph 6 and substituting the following sub-paragraph:

“(b)

the average value of all goods shall be equal to

A+B 2

where A

is the value of all goods in all the bonded warehouses to which the bonded warehouse licence relates at the beginning of the period referred to in paragraphs 2 and 3; and

is the value of all goods in all the bonded warehouses to which the bonded warehouse licence relates at the end of the period referred to in paragaphs 2 and 3.”.

Search within Legislation