Singapore legislation

Clause 6

of Goods and Services Tax (Amendment) Bill

Clause 6

Amendment of section 22

Section 22 of the principal Act is amended —

(a)

by inserting, immediately after the words “specified in” in subsection (1), the words “Part I of”;

(b)

by inserting, immediately after subsection (1), the following subsection:“(1A) An importation of goods is an exempt import if it is of a description or of a class for the time being specified in Part II of the Fourth Schedule.”;

(c)

by deleting subsection (2) and substituting the following subsection:“(2) The Minister may by order vary the description of —

(a)

financial services in paragraph 1 of Part I, and paragraphs 1 and 3 of Part III, of the Fourth Schedule by adding to or deleting from the Fourth Schedule or by varying any description or class of financial services for the time being specified in the Fourth Schedule; or

(b)

investment precious metals in paragraph 1 of Part II, and paragraph 2 of Part III, of the Fourth Schedule by adding to or deleting from the Fourth Schedule or by varying any description or class of investment precious metals for the time being specified in the Fourth Schedule.”; and

(d)

by inserting, immediately after the words “Exempt supply” in the section heading, the words “and exempt import”.

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