how is it possible that an importer of marine goods can utilise the SFIS Scrip issued to a hotel for supplying fish to the hotel (SFIS holder) ? (The hotel and the importer are two separate companies and not group companies).
How the transaction can be effected? What are the procedures and precautions to be taken?
Use of SFIS scrip: third party utilisation raises eligibility and procedural safeguards for distinct corporate entities. Use of SFIS scrip by a third party raises whether an importer may utilise a scrip issued to a hotel when the hotel and the importer are separate companies; the central concerns are permissibility of third party utilisation, eligibility of the transferee, and the procedural safeguards, documentation and precautions required to effect the transaction while maintaining the scrip's intended purpose. (AI Summary)
TaxTMI 
TaxTMI 
