MOF accepts 24 suggestions from public on draft GST amendmen
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MOF accepts 24 suggestions from public on draft GST amendment bill
Posted: 04 September 2012 1737 hrs
SINGAPORE: The Ministry of Finance (MOF) on Tuesday announced that it has accepted 24 out of 57 suggestions from the public on the draft Goods and Services Tax (Amendment) Bill 2012.
The suggestions were received during a public consultation exercise from July 2 to 27. They will be incorporated into the revised Goods and Services Tax (Amendment) Bill 2012 or IRAS' e-Tax guides.
MOF said the remaining 33 suggestions were not accepted for implementation because they are inconsistent with policy objectives for the proposed legislative changes or legislative drafting conventions.
The draft Goods and Services Tax (Amendment) Bill 2012 proposed legislation to put into effect tax changes announced in Budget 2012, as well as changes arising from the periodic review of the Goods and Services Tax system.
The key changes accepted include:- A GST exemption on the import and supply of investment-grade gold and precious metals;
- A new Approved Refiner and Consolidator Scheme will also relieve cash flow for refiners and local consolidators of precious metals, and enable them to claim input tax to make the first exempt supply of investment-grade precious metals after refining;
- An extension of the scope of GST zero-rating of prescribed financial services relating to goods situated outside of Singapore;
- Allowing the Comptroller and Minister for Finance to set conditions when granting GST remission;
- Extension of the Temporary Removal Scheme to goods that are removed temporarily from approved warehouses for repairs; and
- Allowing zero-rating of repair services performed on qualified goods outside the Approved Specialized Warehouse.
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what kind of bullshit is this?
knn, why no GST exemption on basic necessities like rice, oil...
oh yah.. i forgot.. GST is to help the poor...
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bullshit will only have 1 kind. sg no natural resources so depends on import. where we get money to pay gahmen if no tax on imports.
Bear you hav to understand - bullshit only got one kind - bullshit. god damn hell fuck shit is still shit, motherfukin shit is still shit.
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GST is to help the rich too, that why gold is exempted.
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basic food and neccessity tax, gold no need tax?
cugerte and alcohol don;t tax lah!
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tok 1 thing , do another thing
chui kon lan pa song
no money to buy food , still have money to buy gold?
FUCK THEM DEEP DEEP
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The 24 suggestions must be from some "public" gold investors.