top of page
  • Writer's pictureChoon Ng

Public Consultation on Draft GST Amendment Billl 2012 is now opened till 27 July

The Ministry of Finance is seeking feedback on the draft GST (Amendment) Bill 2012 covering the following GST changes (including those announced in the Budget Statement 2012). These include:

(a) Exempting the import and supply of investment-grade gold and precious metals from GST

(b) New Approved Refiner and Consolidator Scheme to enable them to claim input tax to make the first exempt supply of investment-grade precious metals after refining

(c) Extending the scope of GST zero-rating of prescribed financial services relating to goods situated outside Singapore;

(d) Allowing the Comptroller and Minister to set conditions when granting GST remission;

(e) Extending the Temporary Removal Scheme to goods removed temporarily from approved warehouses for repairs;

(f) Allowing zero-rating of repair services performed on qualified goods outside the Approved Specialised Warehouse;

(g) Technical change to zero-rating relief for specified supplies made to Approved Marine Customers, and specified supplies made to overseas persons relating to specified goods kept in an Approved Specialised Warehouse; and

(h) Technical change to the Approved Contract Manufacturer & Trader (ACMT) Scheme.

Please refer to the attached files for more details.


0 views0 comments

Recent Posts

See All

GSTax Consultancy featured in "Best in Singapore"

We chanced upon this feature and would like to thank the team at "Best in Singapore" for their vote of confidence and kind recognition. A

GST returns extended from 30 Apr to 11 May 2020

In light of the latest measures that the government has introduced to combat COVID-19 last week, the filing due date for all GST returns due in Apr 2020 will be automatically extended to 11 May 2020.

IRAS releases new video on input tax

Common errors on input tax claims explained using an info video from IRAS Around 3,000 GST-registered businesses are selected by the IRAS for audit every year. The most common mistakes discovered are

bottom of page