Singapore legislation
Regulation 66D
Regulation 66D
Changes in value of relevant supply of goods or services
Subregulation 1
Where, in the opinion of the Comptroller —
there is an increase in the value of a relevant supply of goods or services on or after the date the relevant supply is made;
the original value (O) and the amount of the increase in the value (I) of the relevant supply are each equal to or less than the threshold in regulation 66C(1) (T); and
the total of O and I of the relevant supply exceeds T,then, despite section 38A(2) of the Act applying to the relevant supply at its value that is the total of O and I, the supplier may instead choose to treat I as the value of a separate relevant supply of goods or services made by the supplier to which section 38A(2) of the Act does not apply (and without affecting the treatment already applied for the accounting for and payment of the tax in relation to O).
Subregulation 2
Where, in the opinion of the Comptroller —
there is an increase in value of a relevant supply of goods or services on or after the date the relevant supply is made; and
the amount of the increase in the value (I) of the relevant supply is more than the threshold in regulation 66C(1), then, despite section 38A(2) of the Act applying to the relevant supply at its value that is the total of O and I, the supplier may instead choose to treat I as the value of a separate relevant supply of goods or services made by the supplier to which section 38A(2) of the Act applies (and without affecting the treatment already applied for the accounting for and payment of the tax in relation to O).
Subregulation 3
Without affecting paragraphs (1) and (2), where there is a change (whether by way of an increase or a reduction) in the value of a relevant supply of goods or services after the relevant supply is made, the Comptroller may require the supplier or the customer, or both of them, to make such adjustments to the tax accounted for or paid, or to be accounted for or paid, by either of them, in such form and manner as the Comptroller may require; and the supplier and the customer must comply with the Comptroller’s requirement.