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Public Consultation on Draft Goods and Services Tax (Amendment) Bill 2018

Topics

Tax-Related (GST)

28 June 2018

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INTRODUCTION

  1. The Ministry of Finance is seeking public feedback on the draft GST (Amendment) Bill 2018.

  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.

SCOPE OF THE CONSULTATION

  1. The draft GST (Amendment) Bill 2018 includes the introduction of GST on imported services, which was announced in the 2018 Budget Statement. The Minister for Finance, Mr Heng Swee Keat, announced that GST will be introduced on imported services from 1 January 2020. This will ensure that our GST system remains fair and resilient in a digital economy. GST on imported services will take effect through:

  2. The draft bill also incorporates feedback received from public consultation on IRAS’ draft e-Tax Guides on Reverse Charge and OVR, which was conducted from 20 February 2018 to 20 March 2018.

  3. In addition, there are five changes to existing tax policies and administration, arising from periodic review of Singapore’s GST system as well as to strengthen Whole-of-Government law enforcement. The changes are:

  4. The summary table provides a brief description of the tax changes and explains the amendments to the GST Act and related subsidiary legislation.

GUIDELINES

  1. We would appreciate your participation to ensure that the consultation 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. All comments received during the consultation will be reviewed thoroughly and if accepted, will be incorporated in the Bill for introduction in Parliament.

PERIOD OF CONSULTATION

  1. The draft GST (Amendment) Bill 2018 and the related draft subsidiary legislation are available for public consultation from 28 June to 18 July 2018. We regret that comments received after 18 July 2018 will not be considered, as they will not be in time for incorporation in the final Bill.

FEEDBACK CHANNEL

  1. We encourage all interested parties to submit your comments, using the prescribed template, through:

SUMMARY OF RESPONSE

  1. We will publish a summary of the main comments received on the Ministry of Finance’s website, together with our responses, by September 2018. The identity of respondents will not be disclosed in the summary.

DOCUMENTS TO DOWNLOAD

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

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