Direct about Indirect Tax Series: The Fundamentals of GST

With IRAS’ increasing focus on the overall GST compliance of Singapore companies, it is important to have a team of competent professionals who have the right skillset to identify the common GST errors during their day-to-day operations.

With a strong foundation, your team will be able to do it right!

Our series of “Direct about Indirect Tax” webinars aim to educate and equip professionals in the accounting and finance industry with the GST knowledge and practical tips that they need to aid in their daily operations.

GST has been implemented for more than 20 years and yet, there are still misconceptions and errors made by accountants with years of experience. Hence, this course does not only apply to new members in the finance or accounting team, but it also acts as a refresher course to senior accountants or finance managers.

The webinar will cover the following topics:

• Overview of GST
  • Input tax and output tax mechanism
  • Classification of supplies
  • Time, place and value of supplies
• Basic concept and documentation requirement on the export of goods
  • Direct export of goods
  • Indirect export of goods
  • Third country sales
  • 60 days rule
• Basic concept on international services
  • When can you zero-rate your services to overseas person?
  • Different categories of international services
• Exempt supplies and its implications
  • Common exempt supplies made by the Company and its reporting basis
  • “Bad” exempt supplies and input tax apportionment
• Deemed supplies
  • Gift of goods
  • Use of premises by third party
• Input tax claims
  • Disallowed expenses
  • Input tax denoted in foreign currency
  • New input tax claim condition with effect from 1 January 2021
  • Documentation requirement
  • GST incurred on fringe benefits
• Overview of the different GST schemes available

Trainer Profile

Eddie Soh 

With more than 20 years of practical GST experience gained from working at Inland Revenue Authority of Singapore as a tax auditor and big four accounting firm (PwC) as a tax advisor, Eddie is the subject matter expert you go to when you need advice on goods and services tax (“GST”) matters.

He is an accredited tax advisor (GST) with Singapore Chartered Tax Professional and he speaks regularly at public GST workshop and seminars. The primary objective of conducting workshop and seminars is to share the knowledge gained from his experience and his long term goal is to digitalise the knowledge so that it can be easily accessed by others.

Eddie is a GST advisor by profession and he finds joy in solving your GST problem. Having led 43 multi-national companies to Assisted Compliance Assurance Programme (“ACAP”) premium status, he now advises clients on the best practices that should be in place to prevent and detect GST errors.