With IRAS’ increasing focus on the overall GST compliance of Singapore companies, it is important to have the right skillset to identify the common GST errors in the preparation of GST returns.
Attend this practical workshop, wherein the trainer will share his “Cheat Sheet” of more than 50 detective controls that can be implemented during the review of the GST return. This “Cheat Sheet” will help you in filing your future GST returns with minimal errors.
A Highlight of Key Areas:
IRAS Focus: Common Mistakes made in the GST returns
- Time, place and value of supplies
- Omitting to account for deemed output tax
- Incorrectly zero-rating international services
- Importance of maintaining the prescribed export documentation
- Incorrect reporting of exempt supplies
- Regulation 33 exempt supplies
- Non regulation 33 exempt supplies
- Failure to perform input tax apportionment - Errors on input tax claims
- Disallowed expenses
- Input tax denoted in foreign currency
- GST incurred on fringe benefits
- Documentation requirement - Import suspension scheme (e.g. Major Exporter Scheme or Import GST Deferment Scheme)
- Reverse charge
The ‘Cheat Sheet’ comprises of more than 50 detective controls (including transitional issues during GST rate change w.e.f. 1 Jan 2023) that you can implement during the review of the quarterly GST returns.
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