Singapore legislation
Regulation 45D
Regulation 45D
Import Goods and Services Tax Deferment Scheme
Subregulation 1
A taxable person who is eligible under paragraph (2) may make an application to the Comptroller —
for goods outside Singapore which —
enter Singapore under customs control; and
are removed from customs control into the customs territory by the taxable person (and accordingly imported by the taxable person) in the course or furtherance of any business carried on by him,to be so removed notwithstanding that the tax chargeable on the importation has yet to be paid; and
for the taxable person to account for the tax chargeable on the importation of the goods in the return of the taxable person relating to the prescribed accounting period in which the removal of the goods took place, and pay the same to the Comptroller.
Subregulation 1A
The reference in paragraph (1)(a) to goods that are imported by the taxable person in the course or furtherance of any business carried on by him shall include goods which are consigned to the taxable person as recipient in order for the taxable 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 taxable person.
Subregulation 1B
The reference in paragraph (1) to goods that are imported by a taxable person in the course or furtherance of any business carried on by the taxable person includes goods in respect of which that taxable person would be entitled to claim the tax paid or payable on the importation of the goods as input tax under regulation 42B.
Subregulation 2
A taxable person is eligible to make an application under paragraph (1) if he satisfies the Comptroller that —
his accounting and internal control systems are able to meet such accounting and auditing standards as the Comptroller may require;
he has faithfully observed and complied with all duties and obligations relating to his liability to pay customs and excise duties, income tax, property tax and goods and services tax;
he has been allowed or directed by the Comptroller to furnish returns in respect of periods of one month within the meaning of regulation 52(1)(i); and
he is able to comply with such other conditions as the Comptroller may impose for the protection of revenue.
Subregulation 3
Every application made under paragraph (1) —
shall be made in such form and manner as the Comptroller may determine; and
shall not include any false, misleading or inaccurate declaration or information.
Subregulation 4
The Comptroller may, on an application made under paragraph (1), approve the application on such conditions or with such requirements as he may in his discretion impose.
Subregulation 5
The taxable person shall comply with all conditions and requirements imposed by the Comptroller under paragraph (4).
Subregulation 6
The Comptroller may require the taxable person to furnish security in such form and amount and to make arrangements for the payment of tax as he may determine.
Subregulation 7
An approval granted under paragraph (4) shall have effect for such period as the Comptroller may determine.
Subregulation 8
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 taxable person —
has provided any false, misleading or inaccurate declaration or information in his application under paragraph (1);
has at any time ceased to satisfy any of the requirements for eligibility under paragraph (2); or
has failed to comply with any condition or requirement imposed by the Comptroller under paragraph (4).
Subregulation 9
In a prescribed accounting period, a taxable person to whom approval has been granted under this regulation shall —
account for tax on his importation of goods removed in the prescribed accounting period; and
pay the tax, except that, where the amount of the tax exceeds such amount of credit or excess owing to the taxable person by the Comptroller under section 19(5) of the Act, the taxable person shall pay to the Comptroller the difference between the 2 amounts.
Subregulation 10
A taxable person to whom approval has been granted under this regulation shall not use the approval, and shall take all steps to ensure that no other person uses the approval (whether on behalf of the taxable person or otherwise), except for the purposes for which the approval was granted.
Subregulation 11
A taxable person to whom approval has been granted under this regulation shall immediately notify the Comptroller of any change relating to particulars or information furnished in respect of his application made under paragraph (1).
Subregulation 12
Unless the Comptroller otherwise allows, where a taxable person to whom approval has been granted under this regulation —
ceases to satisfy any of the requirements for eligibility under paragraph (2); (aa)in relation to the goods referred to in paragraph (1B), fails to satisfy any condition specified in regulation 42B(2)(a) to (e) and (g) in relation to those goods;
(ab)fails to comply with any condition or requirement imposed by the Comptroller under paragraph (4); or
fails to account for the tax chargeable on the importation of the goods in accordance with paragraph (9),the taxable person shall immediately, and without demand, pay to the Comptroller the tax chargeable that is not accounted for.