Any companies both local and foreign, which is to provide goods and services in Singapore and expects their supply will exceed S $ 1 million a year must register with the internal Revenue authorities for GST.
GST also known as the Goods and Services Tax is a large fee based on the provision of goods and services in Singapore.
As a foreign company that wants to provide goods and services in Singapore, the authority has two alternatives, the first of which is under section 33 (1), known as Section 33 (1) agent. The foreign company must register with the authorities for the purposes of GST. It also appoint a local person or body under Article 33 (1), acting on behalf of foreign companies on all GST matters. This (1) Agent 33 is responsible for accounting and the payment of GST.
The position of the S33 (1) is such that agent becomes responsible for all matters of payment and liabilities of foreign companies. Basically it is the foreign company as such that (1) Agent 33 and the foreign companies are one and the same. This means that if the foreign company not be able to pay for its tax GST liability, for any reason, the local agent becomes responsible for payment. In this situation, the overseas company delivers the goods at the local level and collects the GST which is payable to the authorities. What does the control (1) Agent 33 has during operations? Therefore, only the brave dare to offer themselves as a section 33 (1) agent.
Another alternative, it is the section 33 (2) agent, in which the overseas company does not need to register for GST but appoint an agent in this section. Section 33 (2) then acts as the main agents and all the goods imported or purchased are in his "hands". Section 33 (2) agent then provides goods and account for the GST. In this scenario, the S33 (2) agents has "control" over transactions.
so it's easy to see why there is very little information in section 33 (1) agent.
At the end of the day, the tax authorities involved in collecting the tax owed to them and there must be someone who is responsible. So the individual who acts as an agent under Article 33 (1) and 33 (2) is actually the responsible party, even though they may have no control over the bank account.
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