20 February 2014
On 17 February 2014, the Inland Revenue Authority of Singapore (IRAS) published the third edition of the e-Tax Guide ‘GST: Approved Refiner and Consolidator Scheme (ARCS)’. The first and second editions were published on 3 September 2012 and 29 April 2013 respectively.
In the third edition, paragraph 8 has been re-organized (see table below) and paragraphs 11.1 to 11.3 from the second edition have been moved into paragraph 8. A new paragraph 8.18, incorporating paragraphs 8.4 and 8.5 from the second edition, has also been added to explain the legislative changes on repayment of tax under ARCS with effective from 1 January 2014.
|
Paragraph number in the third edition |
Paragraph number in the second edition |
|
8.1 |
8.1 |
|
8.2 |
8.6 |
|
8.3 |
8.7 |
|
8.4 |
8.8 |
|
8.5 |
8.9 |
|
8.6 |
8.10 |
|
8.7 |
8.11 |
|
8.8 |
8.12 |
|
8.9 |
8.13 |
|
8.10 |
8.14 |
|
8.11 |
8.15 |
|
8.12 |
8.16 |
|
8.13 |
8.2 |
|
8.14 |
8.3 |
|
8.15 |
11.1 |
|
8.16 |
11.2 |
|
8.17 |
11.3 |
|
8.18 (new) |
Incorporates paragraphs 8.4 and 8.5 from the second edition |
The updated e-Tax Guide is available on the IRAS website.
Source: Inland Revenue Authority of Singapore