Recovery of GST Input Tax Incurred on Purchases: Avoiding Common Errors on Input Tax Claims & COVID-19 Implications

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19 March 2021, Friday

09.00AM - 05.00PM
Hotel Venue to be Advised

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Programme Synopsis

When purchasing from GST-registered suppliers or importing goods into Singapore, GST input tax may have incurred. To recover the input tax, you need to satisfy the conditions for the claim. How do you know if you are eligible and whatwhen and how much to claim?

The most common mistakes discovered during a GST audit are incorrect input tax claims. Hence, a good understanding of input tax recovery rules is critical in delivering optimal GST recovery incurred on purchases, whilst mitigating the risk of penalties. With a clear understanding of these rules, you will know how to examine the conditions that determine when GST can be recovered and how to correctly post the accounting entries for purchases by applying the correct tax treatment for each transaction. Additionally, the recent implications of COVID-19 on claiming input tax will be addressed.

This practical workshop is designed specifically to give Accounting and Tax Professionals more clarity to the key areas of concern on the recovery of GST on purchases.

Programme Outline

A Highlight of Key Areas:

The Fundamental Building Blocks

  • Mechanics of GST
  • Basic GST concepts
    • Different types of supplies / purchases
    • Standard-rated, zero-rated and exempt supplies

Input Tax Recovery Rules

  • Conditions
  • Purchase GST that cannot be claimed

When can GST be Claimed

  • Time of claiming: Claiming input tax in the right accounting period
  • Evidence needed to claim GST
    • Tax invoice
    • Simplified invoice
    • Import permit
  • Purchases by employees

Determining the Amount of GST to Claim

  • De-minimis rule
  • Attribution / apportionment
  • The impact of partial exemption

Specific Expenses

  • Gifts
  • Fringe benefits
  • Business entertainment

Common Errors on Input Tax Claims

  • Understanding the common errors, and avoid making them in your claims

Recent Updates and Practical Input tax claim issues to consider during the COVID-19 period

Practical examples and cases will be used to facilitate learning and understanding for the various sections.

About the Presenter(s)/ Trainer(s)

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Ms Catherine Chiang
Senior Consultant (GST)
Consul Biz Consultancy Services

Catherine has more than 20 years of experience in GST consultancy, with 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance and GST training for clients.

Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.


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