Singapore legislation

Clause 2

of Goods and Services Tax (Amendment) Bill

Clause 2

Amendment of section 2

Section 2(1) of the Goods and Services Tax Act (referred to in this Act as the principal Act) is amended by inserting, immediately after the definition of “authorised person”, the following definition:“ “bare trustee” means a trustee who —

(a)

holds any goods, intellectual property rights or licence to use any intellectual property rights, on trust for the business of —

(i)

persons carrying on the business in partnership; or

(ii)

a person that is a club, an association, a society or an organisation;

(b)

has no interest in the goods, rights or licence other than that by reason of the office and legal title as trustee; and

(c)

has no duty to perform in relation to the goods, rights or licence, other than to act in accordance with instructions given by the persons or person, as the case may be, for any supply relating to the goods, rights or licence;”.

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