Feb
23
Updates on 6 GST E-Tax Guides by IRAS
We should highlight that just before the 2021 budget updates, the IRAS has updated the following GST e-tax guides on 10 February 2021.
Jan
26
Section 33(1) Agent and the Importation of Controlled Goods
The IRAS has published the sixth edition of the GST guide on imports, on 20 January 2021.
Jan
15
GST E-Tax Guide For Property Owners & Property Holding Companies
The IRAS has published the sixth edition of GST Guide for property owners and property holding companies on the 8 January 2020.
Nov
10
NEW! GST E-tax Guide on Transfer Pricing Adjustment
The IRAS has published the first edition of the GST e-tax guide on transfer pricing on 9 November 2020. It is a relieve to note that the IRAS has taken a practical approach for such transfer pricing adjustments for GST purposes. The IRAS has provided three administrative concessions where GST adjustments need not be made for transfer pricing adjustments.
Oct
26
Entering Invoicing Details Into The Customer’s Platform And Self-billing Arrangement - A Cut From The Same Cloth
The key update to this guide is the inclusion of the conditions that businesses must adhere to when invoicing details are entered into the customer’s platform (also known as customer’s electronic system (“CES”)) in lieu of receiving tax invoices generated by the supplier for the purpose of input tax claim.
Sep
7
Claiming Of Input Tax On Expenses Incurred During The COVID-19 Pandemic: The Devil Is In The Detail
The IRAS has updated their website on 1 September 2020 and provided guidance on whether expenses incurred for employees to support them during the Covid-19 pandemic can be claimed as input tax.
Aug
27
[SCTP] GST Risks and Controls Series: Self-Billing Arrangement
Understand the GST risks for self-billing arrangement so that you can put in a process to mitigate the GST risk.
Aug
11
[SCTP] Should You Take Part in a GST ACAP or ASK Review?
There are two main GST compliance initiatives introduced by the IRAS to help GST registered businesses voluntarily comply – Assisted Compliance Assurance Programme (ACAP) and Assisted Self-Help Kit (ASK).
Apr
27
GST E-tax Guide on Exemption of Investment Precious Metals (IPM)
The GST e-tax guide has been updated with more examples of qualifying bars, ingots and wafers.
Apr
1
GST e-tax guide on Partial Exemption And Input Tax Recovery
Partial exemption is a high risk area for GST compliance (think about reverse charge) but there are also opportunities to increase the input tax recovery rate for certain businesses.
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Workshops & Seminars
10 CPE HOURS
Tue, Mar, 23, 9 am to 11.30 am and 2 pm to 4.30 pm
We have come up with a two-day course on the GST recovery of expenses and international services, to help you decide the GST treatment on that cost recovery, as well as to correct some misconceptions on the requirement for zero-rating under the "international services" provision.
CPE HOURS
Thu, Apr, 15, 9 am to 11.30 am
The Major Exporter Scheme (MES) is one of the most common GST schemes in Singapore to relieve companies of the cash flow cost of paying import GST to Singapore Customs and subsequently claiming it as input tax in the GST returns.
Services
Post ACAP Review (“PAR”）
The PAR can be done internally unless the Company has GST scheme like the Major Exporter Scheme (“MES”) or the Import GST Deferment Scheme (“IGDS”) where the PAR must be performed or certified by an Accredited Tax Practitioner (“ATP”) or Accredited Tax Advisor (“ATA”) of Singapore Institute of Accredited Tax Practitioner (“SIATP”).
GST Assisted Self-Help Kit (ASK) Review
The ASK review is a self assessment compliance package developed by the Inland Revenue Authority of Singapore (“IRAS”) to review the correctness of their GST submission and discover past GST errors early so as to qualify for IRAS Voluntary Disclosure Programme (“VDP”). The ASK review is also necessary for companies who are applying or renewing their GST schemes such as the Major Exporter Scheme (“MES”), Import GST Deferment Scheme (“IGDS”) and the Approved Contract Manufacturing and Trader (“ACMT”) Scheme.
Customised In-House GST Training
Have you ever come across a situation where the topics covered in a GST workshop (e.g. export documents, input tax, fringe benefits, imports etc) are relevant to different departments (e.g. logistic, accounts payable, human resource and finance etc) in your organisation? You feel like sending all of them to the GST workshop but you are afraid that they will get bored and their time is wasted when the trainer shares about topics that are not relevant to their work?
GST Registration
The rules for GST registration in Singapore is simple. As long as the expected and or past value of your taxable supplies (i.e. sales) is more than $1million in a year, you should register for GST.
Retainer Services
Indirect tax is playing a more important role as transactions get more complex. With the introduction of reverse charge with effect from 1 January 2020, partial exempt companies will have additional reporting requirement to account for output tax on imported services.
Other Services
Malaysia Sales and Services Tax
Malaysia legislated sales tax and service tax with effect from 1 September 2018 under the Sales Tax Act 2018 and Service Tax Act 2018.
Malaysia GST Audit
The Malaysian Customs have been conducting GST close-out audits to check the accuracy of GST returns made since the GST was repealed.
Malaysia Digital Services Tax
With effect from 1 January 2020, any foreign service provider who provides digital services to any consumer in Malaysia, which total revenue from such services exceed Ringgit Malaysia Five Hundred Thousand (RM500,000) in a continuous twelve (12) months calendar period, is liable to register as a service tax registrant. The foreign service provider is then required to charge service tax on any digital service provided to a Malaysian consumer.
Testimonials
Sandy Heng
Greatearth Construction Pte Ltd
Eddie's indepth knowledge and subject matter understanding is very evident with his sharing, good examples which I could well relate to. GST is a dry topic but made easy to understand by Eddie's simple yet clear presentation. The webinar was peppered with examples, and that was the biggest takeaway.
Wong Siew Jing
Bosch Rexroth Pte Ltd
Our company has recently engaged JetTax to conduct a reviewed on the “GST Assisted Self-Help Kit”. Eddie and team has shown us their professionalism and commitments. Their knowledge on GST topics are excellent and undeniable. We have broaden our knowledge during this period. We would like to take this opportunity to thanks Eddie & Garry for the services and guidance that you’ve rendered to us and looking forward on our next future projects.
Nur Azleen Ramli, Tax Manager
Bosch ASEAN
Eddie assisted one of my entities with ASK and it was done in an extremely professional manner. My team that worked with him mentioned that there was clear communication from him at all times and fast responses which is crucial especially at a time Sg is in circuit breaker mode. We completed the ASK in a timely manner and I got the assurance that my team had good controls in the scope of ASK. I would recommend Eddie / JED and would not hesitate to consider him in future work / projects.
Participants from in-house GST training
It’s good to that the course utilises the interactive website platform for quizzes and question asking. It provides a more refreshed way in learning compared to the usual lesson plan.
Participants from in-house GST training
Eddie has related the course very well to the services that the company provides to its clients. He has included many practical examples to help facilitate the understanding of the concepts. Thank you for a job well done!
Dorothy Tseu, ACAP/Renewal Project Lead
Global MNC in the oil and gas industry
I have worked closely with Eddie on both projects. Eddie showed excellent grasp of business operational processes and his thoroughness and sensible approach on technical rules and applications facilitated discussions with all levels of internal stakeholders. In addition, Eddie has a respectful working relationship with IRAS officers and he demonstrated strong technical expertise when clarifying and articulating submissions. Furthermore, despite conflicting priorities, Eddie and his team provided solid support and diligently met tight project timelines, which resulted in deliverables achieved ahead of deadlines.
Teo Meng Yeow, Senior Tax Manager
Listed MNC - Global Manufacturing Solution Providers
I have worked with Eddie for more than six years and he has always been our first choice of Singapore GST advisor to go to. Not only is he very professional and knowledgeable, he always offers practical analysis and solutions that meet both client and tax authority's needs.
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