Singapore legislation
Regulation 90B
Regulation 90B
Adjustment for reverse charge supply
Subject to these Regulations, a claimant is entitled, on making a claim to the Comptroller, to a refund of the difference between the amount of output tax chargeable, and the amount of input tax claimable by him, on a reverse charge supply by reference to the outstanding consideration, where —
the claimant has accounted for and paid tax on the reverse charge supply;
the whole or any part of the consideration has not been paid by the claimant to the supplier for the supply made by the supplier to the claimant, for a period of more than 12 months since the date the reverse charge supply was treated as taking place;
the value of the reverse charge supply is equal to or less than its open market value;
the claim is made within a period of 5 years commencing on —
the day on the reverse charge supply was treated as taking place; or
where section 93 or 94 of the Act applies to the reverse charge supply, the transitional (reverse charge) date for the supply,or such longer period as the Comptroller may allow; and
the Comptroller is satisfied that there is a genuine commercial reason for the failure of the claimant to make payment of the whole or part of the consideration to the supplier for the reverse charge supply.