Singapore legislation

Regulation 72

of Goods and Services Tax (General) Regulations

Regulation 72

Insolvency of approved person

Where an approved person goes into liquidation or receivership, or becomes bankrupt, and ceases to trade, other than for the purpose of disposing of stocks and assets, he shall within 2 months account for tax on supplies made and received in the previous 12 months which have not otherwise been accounted for, subject to any adjustment for credit for input tax, and indicate the amount of such tax which is non-preferential.