Regulation 1
Citation
This Order may be cited as the Goods and Services Tax (Excluded Transactions) Order.
/akn/sg/act/sub_leg/1993/GSTA-OR2
Goods and Services Tax (Excluded Transactions) Order
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- Type
- Subsidiary Legislation
- Status
- In force
- Enacted
- 1993
- Sections
- 7
Quick answer
About this subsidiary legislation
Goods and Services Tax (Excluded Transactions) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation GSTA-OR2 1993, currently marked in force and first recorded in 1993.
Regulation 2
Excluded transactions
Except in the circumstances referred to in paragraph 3, the following supplies by a person of assets of his business shall be treated as neither a supply of goods nor a supply of services:
(a)
the supply to a person to whom he transfers his business as a going concern —
(i)
where the assets are to be used by the transferee in carrying on the same kind of business, whether or not as part of any existing business, as that carried on by the transferor; and
(ii)
where, in a case in which the transferor is a taxable person, the transferee is already, or immediately becomes as a result of the transfer, a taxable person; and
(b)
the supply to a person to whom he transfers part of his business as a going concern —
(i)
where that part is capable of separate operation;
(ii)
where the assets are to be used by the transferee in carrying on the same kind of business, whether or not as part of any existing business, as that carried on by the transferor in relation to that part; and
(iii)
where, in a case in which the transferor is a taxable person, the transferee is already, or immediately becomes as a result of the transfer, a taxable person.
Regulation 3
Supplies not to be excluded
Subregulation 1
Subject to sub-paragraph (2) —
(a)
where a business, or part of a business, carried on by a taxable person is transferred as a going concern to another taxable person treated as a member of a group under section 30 of the Act; and
(b)
where, on the transfer of the business or part thereof, assets of the business are transferred to that taxable person,then paragraph 2 shall not apply to the transfer of such assets and accordingly, tax shall be chargeable on the supply in accordance with the Act.
Subregulation 2
This paragraph shall not apply if —
(a)
the members of the group are entitled to credit for the whole of the input tax on supplies to them and acquisitions and importations by them —
(i)
during the prescribed accounting period in which the assets are transferred; and
(ii)
during any longer period to which regulations under section 20(4)(b) of the Act relate and in which the assets are transferred;
(b)
the Comptroller is satisfied that the assets were assets of the taxable person transferring them more than 3 years before the day on which they are transferred; or
(c)
the Comptroller is satisfied that the person by whom the asset is transferred has not received any credit for input tax arising on the supply to him or acquisition or importation by him of the asset.
Regulation 4
Transfer or assignment of title to goods
Subregulation 1
Where a provider of hire-purchase finance transfers or assigns his title to goods comprised in a hire-purchase agreement together with the hire-purchase finance relating to such goods, the transfer or assignment of title shall be treated as neither a supply of goods nor a supply of services.
Subregulation 2
For the purpose of sub-paragraph (1), “hire-purchase finance” means the instalment credit finance in a hire-purchase agreement.
Regulation 5
Income tax group relief
Amended byS 265/2003 wef 01/01/2003
Subregulation 1
Where a person transfers any qualifying deduction to any other person under section 37C of the Income Tax Act (Cap. 134), such transfer shall be treated as neither a supply of goods nor a supply of services.
Subregulation 2
Amended byS 265/2003 wef 01/01/2003
For the purpose of sub-paragraph (1), “qualifying deduction” means a qualifying deduction referred to in section 37C of the Income Tax Act.
Regulation 6
Issuance or transfer of carbon credits
Amended byS 900/2022 wef 23/11/2022
Subregulation 1
The issuance or transfer (including by way of sale) of any carbon credit or any digital representation of a carbon credit is treated as neither a supply of goods nor a supply of services.
Subregulation 2
To avoid doubt, the issuance of a carbon credit under sub-paragraph (1) includes the crediting of any carbon credit by the National Environment Agency into any registry account under the Carbon Pricing Act 2018.
Subregulation 3
In this paragraph —
Definition
“carbon credit” means —
(a)
a certificate representing an amount of greenhouse gas emissions reduction or removal, generated from any project or programme, and (to avoid doubt) includes a certificate representing the avoidance of an amount of such emissions;
(b)
a right to emit any greenhouse gas; or
(c)
a means to satisfy any tax or regulatory obligation arising from the emission of any greenhouse gas, and includes a carbon credit as defined in section 2(1) of the Carbon Pricing Act 2018;
Definition
“greenhouse gas” and “registry account” have the meanings given by section 2(1) of the Carbon Pricing Act 2018;
Definition
“National Environment Agency” means the National Environment Agency established under the National Environment Agency Act 2002.
Regulation 7
Digital payment tokens
Amended byS 878/2019 wef 01/01/2020
The provision of digital payment tokens as consideration in respect of any transaction (other than a transaction for a supply of money or digital payment tokens), is treated as neither a supply of goods nor a supply of services.
Common questions
- What is Goods and Services Tax (Excluded Transactions) Order?
- Goods and Services Tax (Excluded Transactions) Order is Singapore Subsidiary Legislation, cited as Subsidiary Legislation GSTA-OR2 1993, currently marked in force and first recorded in 1993.
- Is Goods and Services Tax (Excluded Transactions) Order still in force?
- Yes — Goods and Services Tax (Excluded Transactions) Order is currently in force.
- When did Goods and Services Tax (Excluded Transactions) Order take effect?
- Goods and Services Tax (Excluded Transactions) Order was first recorded in 1993.
- How many regulations does Goods and Services Tax (Excluded Transactions) Order have?
- Goods and Services Tax (Excluded Transactions) Order contains 7 regulations.
- Where can I read the official version of Goods and Services Tax (Excluded Transactions) Order?
- The official text of Goods and Services Tax (Excluded Transactions) Order is published at sso.agc.gov.sg.