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Businesses should generally use the Singapore Dollar (“SGD”) equivalent stated on the supplier’s tax invoice when claiming GST input tax on foreign currency purchases.

Zero-rated purchases should generally be included in the reporting of taxable purchases under Box 5 of the GST return even though GST is charged at 0%.

Businesses should ensure that both the GST input tax claimed and the corresponding value of taxable purchases are properly reported in the GST return.

Where GST errors affect more than one accounting period, businesses may consolidate the errors and report them in a single GST F7 on a per annum basis.

The preparation of an employee’s income tax return is generally considered to have no close nexus to the business and is treated as a personal expense of the employee for GST purposes.

Generally, businesses should file a GST F7 form to correct errors made in previously submitted GST returns.

Generally, GST incurred on accommodation costs relating to family members is not claimable as it is treated as a family benefit under regulation 26 of the GST (General) Regulations.

GST incurred on employee accommodation and related household expenses is usually not claimable as the expenses are regarded as being incurred for the personal benefit of employees.

IRAS operates a Voluntary Disclosure Programme (“VDP”) that allows businesses to voluntarily disclose errors made in their GST returns.

Realised foreign exchange gains or losses arising from transactions in foreign currencies should generally be reported in the GST return as exempt supplies.