Clause 10

by deleting the words “which comprises the treatment or processing of goods for and to a person who belongs in a country other than Singapore to be disregarded for the purposes of this Act subject to such conditions or restrictions as may be prescribed or as the Comptroller may impose for the protection of the revenue.” in subsection (1) and substituting the following words:“which comprises the treatment or processing of goods —

under a contract with a person who belongs in a country outside Singapore and is not registered under this Act (referred to in this section as an overseas person); and

which directly benefits a person who belongs in a country outside Singapore and is not registered under this Act (referred to in this section as an overseas person),to be disregarded for the purposes of this Act subject to such conditions or restrictions as may be prescribed or as the Comptroller may impose for the protection of the revenue.”;

by deleting subsection (2) and substituting the following subsections:“(2) Regulations made under subsection (1) may provide for the following:

for the treated or processed goods to be delivered only to —

any taxable person approved by the Comptroller; or

the customer of an overseas person to whom the overseas person supplies the goods,and, where any taxable person (including a taxable person referred to in subsection (1)) fails to do so, for the taxable person to pay to the Comptroller an amount equal to the tax that would have been payable if the taxable person had himself made a supply of the goods in the course or furtherance of his business;

for a taxable person approved by the Comptroller who receives the treated or processed goods from another approved person to declare, in such form and manner as the Comptroller may require, his receipt of those goods;

where a taxable person approved by the Comptroller delivers the goods to the customer of an overseas person referred to in paragraph (a)(ii), for the taxable person to account for and pay tax in substitution for the overseas person, as if the taxable person had himself supplied the goods to that customer in the course or furtherance of his business.(3) The Comptroller may publish the names and such other particulars of the taxable persons to whom regulations made under this section apply in such form or manner as he thinks fit.”; and

by deleting the words “for and to” in the section heading and substituting the word “of”.