Singapore legislation
Regulation 88
Regulation 88
Attribution of payments
Subregulation 1
Where —
the claimant has made more than one supply (whether taxable or otherwise) to the debtor; and
a payment is received in relation to those supplies,the payment shall be attributed to each such supply in accordance with paragraphs (2) and (3).
Subregulation 2
The payment shall be attributed to the supply which is the earliest in time and, if not wholly attributed to that supply, thereafter to supplies in the order of the dates on which they were made, except that attribution under this paragraph shall not be made to any supply if the payment was allocated to that supply by the debtor at the time of payment and the consideration for that supply was paid in full.
Subregulation 3
Where —
the earliest supply and other supplies to which the whole of the payment could be attributed under this regulation occur on one day; or
the supplies to which the balance of the payment could be attributed under this regulation occur on one day,the payment shall be attributed to those supplies by applying for each supply the formulawhere Ais the payment received;Bis the outstanding consideration for that supply; andCis the total outstanding consideration for those supplies.