GST Risks and Controls Series: Major Exporter Scheme (MES)
Thu, 10 June 2021
9.30 am to 11 am
FEE (inclusive of GST)
Complimentary (*Only companies who have MES/Import GST Deferment Scheme (IGDS) are eligible to sign up)
PayNow, Bank Transfer or Cheque
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.
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.
It is an important GST scheme for companies and the IRAS can revoke the MES scheme if it is being abused.
The webinar will cover the following topics:
- Overview of MES
- Approved use of the MES status
- Why incoterm is important when you purchase from local supplier
- Importing goods as a section 33(2) and 33A agent
- When can you import goods on behalf of your local customer or GST registered overseas customer using your MES status?
- GST risks on MES and the controls that can be implemented
- Voluntary disclosure programme
*Do note: Only companies who have MES/Import GST Deferment Scheme (IGDS) are eligible to sign up
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.