Singapore legislation
Regulation 42B
Regulation 42B
Claim for input tax on import of processed goods
Subregulation 1
Subject to compliance with all conditions specified in paragraph (2) in the circumstances described in section 33B(1) of the Act, a taxable person may claim the tax paid or payable by the taxable person on the import of the goods back into Singapore as his input tax under section 19 of the Act as if the whole of the input tax were allowable under section 20 of the Act.
Subregulation 2
The conditions for the purposes of paragraph (1) are as follows:
the taxable person imports the goods back into Singapore within 6 months after the goods were removed from Singapore, or such longer period as the Comptroller may allow in any particular case;
the taxable person retains control over the goods from the time his customer consigns the goods to him to the time the taxable person delivers the goods (after the goods are imported back into Singapore) to his customer or to any other person in accordance with the instructions of his customer;
the taxable person does not obtain reimbursement of the tax paid by him on the importation of the goods;
no process that is not part of the supply made by the taxable person to his customer is applied to or carried out on the goods (including any process by which any additional goods are added to the goods);
the supply made by the taxable person to his customer takes place before the taxable person ceases to be a taxable person;
the taxable person complies with regulation 61(1) and (2) in claiming the tax paid or payable on the importation of the goods as his input tax;
the taxable person complies with all conditions or restrictions imposed by the Comptroller for the protection of revenue.
Subregulation 3
Where the taxable person fails to satisfy any condition (including any condition subsequent) specified in paragraph (2), he must —
pay to the Comptroller without demand the amount of tax allowed to him under paragraph (1); and
include the amount referred to in sub‑paragraph (a) as output tax in his return filed for the prescribed accounting period in which he fails to satisfy the condition.