Singapore legislation
Regulation 45C
Regulation 45C
Approved import tax suspension scheme
Subregulation 1
A taxable person may apply to the Comptroller to be an approved person under this regulation, and the Comptroller may approve such application if the taxable person satisfies the Comptroller that —
he is in the aerospace industry;
he makes substantial supplies in the course or furtherance of his business and satisfies such requirements as the Comptroller may determine;
his accounting and internal control systems are able to meet such accounting standards as the Comptroller may require; and
he is able to comply with such other conditions as the Comptroller may impose for the protection of revenue.
Subregulation 2
Subject to paragraph (4) —
goods outside Singapore (other than qualifying aircraft parts) which —
enter Singapore under customs control; and
are removed from customs control into the customs territory by an approved person (and accordingly imported by the approved person) in the course or furtherance of any business carried on by him,not being goods which are subject to a duty (whether customs duty or excise duty or both), may be so removed without payment of the tax chargeable on the importation; and
qualifying aircraft parts which —
enter customs control; and
are removed from customs control into the customs territory by an approved person (and accordingly imported by the approved person) in the course or furtherance of any business carried on by him,not being goods which are subject to a duty (whether customs duty or excise duty or both), may be so removed without payment of the tax chargeable on the importation.
Subregulation 2A
The reference in paragraph (2)(a) to goods that are imported by the approved person in the course or furtherance of any business carried on by him shall include goods which are consigned to the approved person as recipient in order for the approved person to make supplies (other than supplies referred to in section 22 of the Act) using or in relation to those goods, if the conditions referred to in regulation 42A(1)(a), (b) and (c) are satisfied, with —
the reference to the owner in that regulation read as a reference to the person who consigned the goods to the taxable person; and
the reference to the importer in that regulation read as a reference to the approved person.
Subregulation 2B
The reference in paragraph (2)(b) to qualifying aircraft parts that are imported by the approved person in the course or furtherance of any business carried on by him shall include qualifying aircraft parts which are consigned to the approved person as recipient in order for the approved person to make supplies (other than supplies referred to in section 22 of the Act) using or in relation to those goods.
Subregulation 3
[Deleted by S 827/2010 wef 01/01/2011]
Subregulation 4
Paragraph (2) shall not apply if, at the time of the importation in question, the approved person does not satisfy the requirement set out in paragraph (1)(a).
Subregulation 5
Every application made under paragraph (1) shall —
be made in such form as the Comptroller may determine; and
give a full and true account of the particulars or information furnished.
Subregulation 6
The Comptroller may approve an application made under paragraph (1) on such conditions or with such requirements as he may, in his discretion, impose.
Subregulation 7
The Comptroller may, in granting approval under paragraph (1), require the approved person to —
furnish security in such form and amount; and
make arrangements for the payment of tax,as the Comptroller may determine.
Subregulation 8
An approval granted under paragraph (1) shall have effect for such period as the Comptroller may determine.
Subregulation 9
Unless the Comptroller otherwise allows or directs, notwithstanding that no tax is payable, an approved person shall account for the importation of goods in his return made under the Act for the period in which the importation occurred.
Subregulation 10
An approved person shall immediately notify the Comptroller of any change in particulars furnished, the security given or the arrangements for the payment of tax.
Subregulation 11
The Comptroller may, at any time, by notice in writing, vary or revoke any approval granted under this regulation if he is satisfied that the approved person —
has at any time ceased to satisfy any of the requirements for eligibility under paragraph (1);
has provided any false, misleading or inaccurate declaration or information in his application under paragraph (1);
has failed to account for or pay tax on any importation by him on the basis that the importation fell within paragraph (2) when the importation did not fall within that paragraph; or
has failed to comply with any condition or requirement imposed by the Comptroller under paragraph (6).
Subregulation 12
Unless the Comptroller otherwise allows, where the approved person fails to account for or pay tax on any importation by him on the basis that the importation falls within paragraph (2) when —
the importation does not fall within paragraph (2); or
paragraph (2) does not, by virtue of paragraph (4), apply to the importation,he shall —
pay to the Comptroller without demand an amount equal to the tax which would, but for this regulation, have been chargeable on the importation, as the case may be, to which the failure to comply relates; and
include the amount of tax as output tax in his return.
Subregulation 13
In this regulation —[Deleted by S 827/2010 wef 01/01/2011]
Definition
“approved person” means a taxable person whose application to be an approved person has been granted by the Comptroller under paragraph (1);
Definition
“qualifying aircraft parts” has the same meaning as in section 21(4)(a) of the Act.