Singapore legislation

Clause 3

of Goods and Services Tax (Amendment) Bill

Clause 3

Amendment of section 19

Section 19(15) of the principal Act is amended by deleting the definition of “subsequent specified period” and substituting the following definition:“ “subsequent specified period” means —

(a)

where the prescribed accounting period during which the relevant input tax was first credited under subsection (2) ends before 1st January 2007, a period —

(i)

commencing on the day immediately following the end of the initial specified period; and

(ii)

ending on a day 6 years from the end of that prescribed accounting period; or

(b)

where the prescribed accounting period during which the relevant input tax was first credited under subsection (2) ends on or after 1st January 2007, a period —

(i)

commencing on the day immediately following the end of the initial specified period; and

(ii)

ending on a day 5 years from the end of that prescribed accounting period.”.

Read in full context — Goods and Services Tax (Amendment) Bill →