Clause 29

by inserting, immediately after subsection (1), the following subsection:“(1AA) Any person who is required to account for tax on a reverse charge supply must, in addition to the records mentioned in subsection (1), maintain the following:

sufficient records of the reverse charge supply to enable the following particulars to be ascertained:

the name and address of the person or branch mentioned in section 14(1)(a) or member of the group mentioned in section 30(1A) whose supply gave rise to the reverse charge supply (called in this section the overseas supplier);

the date on which, or the period during which, the services under the supply made by the overseas supplier were in fact received;

a description of the services in fact supplied;

the consideration for the supply made by the overseas supplier;

the time by which payment of the consideration for the supply made by the overseas supplier is required;

the reference number of any invoice relating to the supply made by the overseas supplier;

any contract, agreement or arrangement entered into in respect of the supply made by the overseas supplier;

where any invoice, contract, agreement or arrangement is in a foreign language, a translation of the same into English, if the Comptroller requires;

such other records as may be prescribed;

where an election under section 11C(8)(c) or 14(5) or (6) has been made, a record of the election and such information and supporting documents relating to the election, in such form and manner, as required by the Comptroller.”;

by inserting, immediately after the words “subsection (1)” in subsection (1A), the words “or (1AA)”;

by inserting, immediately after subsection (1A), the following subsections:“(1B) Where the taxable person is an operator of an electronic marketplace mentioned in the Seventh Schedule, the duty of the operator to keep records under this section includes records relating to —

where paragraph 3(2)(b)(ii) of the Seventh Schedule applies, all supplies of digital services of the relevant overseas underlying supplier made to any person belonging in Singapore; and

where the operator makes an election under paragraph 5 of the Seventh Schedule, all supplies of digital services of any local underlying supplier (that are treated as made to the operator) in fact made to any person belonging in Singapore.(1C) Despite subsection (1), a registered (Seventh Schedule — pay only) person need not keep records of supplies of goods or services made to the person or imports of goods by the person.”; and

by deleting the words “subsection (1) or (1A)” in subsection (3AA) and substituting the words “subsection (1), (1AA), (1A) or (1B)”.