Have you considered if the GST treatment that you have adopted in the business transactions of your organisation is in accordance with the GST legislation and the IRAS guidelines? Have you performed any post-filing review of the GST returns submitted? Based on the IRAS website, 2,521 GST audits were completed across various industries for the fiscal year 1 April 2023 to 31 March 2024, resulting in a recovery of $162 million, including penalties.
Businesses, regardless of size or type (e.g. sole-proprietors, partnerships, corporates), are at higher risk of GST errors and penalties if they lack proper oversight of their GST compliance. Conversely, businesses with strong GST governance can avoid costly mistakes.
The GST legislation and the IRAS guidelines are constantly updated and as a GST-registered company, the GST preparers and reviewers should be aware of these changes to avoid making any errors.
This workshop by Wolters Kluwer is based on actual cases of common non-compliance with an elaboration of the relevant GST legislation and the IRAS guidelines, accumulated from the experience gathered by the trainer for the past 30 over years. Engaging and interactive, the practical workshop offers you a different learning approach.
A Highlight of Key Areas:
- Areas of non-compliance for both supplies and purchases
- How to perform a self-review, prior to and after the submission of GST return to identify errors or potential errors
- What are the controls you could establish to prevent errors from occurring
- What are the consequences of non-compliance with GST legislation and IRAS guidelines
Ms Gan Hwee LengDirector
Alliance of Associated Advisors (AAA) Pte. Ltd.
Accredited Tax Advisor (Income Tax & GST)
Hwee Leng is a director in Alliance of Associated Advisors (AAA) Pte. Ltd. (an entity under AEP LLP), a tax consulting company, with extensive experience in Goods and Services Tax (GST) matters, both as a regulator and business adviser. She retired as a partner from the Indirect Tax Practice at KPMG in 2022. Prior to her consulting career, Hwee Leng worked at IRAS for 15 years, where she was part of their GST implementation team and involved in the drafting of the various circulars on the operation of GST, the GST legislation, schemes for businesses and audit of businesses.