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Public Consultation on Draft Goods and Services Tax (Amendment) Bill 2015

Topics

Tax-Related (GST)

13 July 2015

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INTRODUCTION

  1. The Ministry of Finance is seeking public feedback on the draft Goods and Services Tax (Amendment) Bill 2015.

  2. We invite you to comment on the proposed policy changes and the drafting of legislative amendments which will give effect to these policy changes. Your views on the drafting will help us improve the clarity of the legislative amendments and help in the ease of compliance.

SCOPE OF THE CONSULTATION EXERCISE

  1. The draft GST (Amendment) Bill 2015 covers three planned changes to existing GST policies and administration resulting from on-going reviews of the GST system. These are:

  2. The summary table lists the above three changes and explains the amendments to the GST Act and related subsidiary legislations.

GUIDELINES

  1. We would appreciate your participation to ensure that the consultation exercise is productive. Respondents are requested to observe these guidelines:

  2. This draft legislation is released only for the purpose of consultation and should therefore not be used for individual or business decisions as it does not represent the final legislation or regulations. All comments received during the consultation exercise will be reviewed thoroughly and, if accepted, will be incorporated into the Bill for introduction in Parliament.

PERIOD OF CONSULTATION

  1. The draft GST (Amendment) Bill 2015 for the changes in paragraphs 3a to 3c and the draft subsidiary legislation for the change in paragraph 3b are available for public consultation from 13 July to 31 July 2015. We regret that comments received after 31 July 2015 will not be considered for incorporation into the final Bill.

FEEDBACK CHANNEL

  1. We encourage all interested participants to submit your comments via our online submission form as this is the easiest and quickest way for your comments to reach us. You can also send us your comments, using the prescribed template, through:

SUMMARY OF RESPONSE

  1. We will publish a summary of the main comments we receive on the Ministry Of Finance’s website, together with our responses, by September 2015. The identity of respondents will not be disclosed in the summary.

DOCUMENTS TO DOWNLOAD

  1. For further reference, please click here to download the relevant documents relating to this public consultation exercise.

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