No one knows everything under the sun except for, perhaps, Google. The Institute of Singapore Chartered Accountants (ISCA) has a specific audit programme for GST and within the ISCA audit programme, there is a GST Compliance Checklist. The GST Compliance Checklist lays out the common points to be considered when reviewing GST and its objective is “to check that all GST liabilities are correctly included in the accounts” from a statutory audit perspective.
BUT, how many auditors understand the following questions in the GST Compliance Checklist?
Check if entity allowed to apply partial exemption provision under the GST Act:
(a) Is exempt input tax below the De Minimis limit if no restriction of input GST made?
(b) Is the annual adjustment carried out correctly?
(c) Are special methods formally agreed with the Comptroller?
Join us in this complimentary GST webinar tailored to statutory auditors. This 2-hour webinar will cover the following topics:
If you need any clarifications on whether you’re eligible for the complimentary webinar, please do not hesitate to contact us.
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.