Singapore legislation

Clause 24

of Goods and Services Tax (Amendment) Bill

Clause 24

Amendment of Third Schedule

The Third Schedule to the principal Act is amended —

(a)

by deleting the words “section 14(1)(a)” in paragraph 1(1A)(a) and substituting the words “section 14(1)”;

(b)

by inserting, immediately after sub‑paragraph (1) of paragraph 11, the following sub‑paragraph:“(1AA) Subject to this paragraph and for the purposes of section 18A, where any sum relevant for determining the entry value for any item of goods is expressed in a currency other than Singapore currency or in digital payment tokens, it is to be converted into Singapore currency at the selling rate of exchange prevailing in Singapore at the point of sale of the item.”; and

(c)

by deleting the words “section 14(1)(a)(i) or (ii)” in paragraph 15(1) and substituting the words “section 14(1)(b)(i) or (ii)”.

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