Singapore Issues Draft GST Amendment Bill 2014

On 11 June 2014, the Singapore Ministry of Finance issued for public consultation the draft GST (Amendment) Bill 2014. The draft includes three main amendments:

• Allowing GST-registered persons to fully claim GST on re-import of goods belonging to their customers
• Providing for non-legal entities to claim and account for GST on goods, land, buildings and intellectual properties, which includes:
  • Allowing claims for GST incurred on the acquisition of such properties, and
  • Requiring that GST is ac…