MOF Accepts Half Of The Suggestions On The Draft Goods and Services Tax (Amendment) Bill 2011

1. The Ministry of Finance has accepted for implementation 11 of the 22 suggestions on the draft Goods and Services Tax (Amendment) Bill 2011. The suggestions were received during the public consultation exercise held from 8 to 28 July 2011. They will be incorporated into the revised Goods and Services Tax (Amendment) Bill 2011 or IRAS’ e-tax guides. One suggestion has also been accepted for further study. The remaining suggestions were not accepted for implementation as they are inconsistent with legislative drafting conventions or the policy objectives for the proposed legislative changes.

Draft Goods and Services Tax (Amendment) Bill 2011

2. The draft Goods and Services Tax (Amendment) Bill 2011 proposed legislation to put into effect tax changes announced in Budget 2011, as well as changes arising from the periodic review of the Goods and Services Tax system. The key changes include:

Public Participation in the Consultation Exercise

3. A summary of the key suggestions received on the draft Goods and Services Tax (Amendment) Bill 2011 and MOF’s responses are as follows:

4. MOF would like to thank all respondents for their suggestions.