Singapore Consults on Proposed Amendments to the Goods and Services Tax (GST) Act

The Singapore Ministry of Finance has launched a public consultation on the draft GST (Amendment) Bill 2017 to amend Goods and Services Tax (GST) Act. The proposed changes are as follows:

• Extend customer accounting for GST-registered Real Estate Investment Trusts (REITs) and their Special Purpose Vehicles (SPVs) to movable assets bought together with a non-residential property from the same seller. Currently, to ease cash flow, customer accounting applies to a GST-registered supplier's sale …