Summary of responses to public consultation on the draft Goods and Services Tax (Amendment) Bill 2021

1.      The Ministry of Finance (MOF) invited the public to provide feedback on the draft Goods and Services Tax (Amendment) Bill 2021 (“GST Bill”) from 6 to 27 July 2021¹ . The draft GST Bill proposes amendments to give legislative effect to the GST measures which were announced in Budget 2021. The draft GST Bill also proposes changes arising from the periodic review of the GST regime, and technical amendments.

2.      The key feedback received pertained to the following tax changes:

• Introduction of GST on low-value goods²  and business-to-consumer (“B2C”) imported non-digital services³  from 1 January 2023;

• Updating of the GST treatment for a supply of media sales⁴; and

• Amendment to the existing Overseas Vendor Registration⁵  (“OVR”) and Reverse Charge⁶  (“RC”) regimes.

        Our responses to the key feedback are in Annex A.

3.     The proposed legislative changes will be incorporated into the Goods and Services Tax (Amendment) Bill 2021 to be presented to Parliament in the last quarter of 2021. MOF thanks all individuals and organisations who have taken the time and effort to provide their input.

Annex A: MOF’s responses to key feedback on the draft Goods and Services Tax (Amendment) Bill 2021 

1. Introduction of GST on low-value goods and B2C imported non-digital services  from 1 January 2023
   
    

2. Updating of the GST treatment for a supply of media sales
   
    

3. Amendment to the existing Overseas Vendor Registration and Reverse Charge regimes