Fiscal Representative and Section 33(1) Agent
In order for foreign companies to register for GST in Singapore, the Inland Revenue Authority of Singapore requires the foreign company to appoint a local agent pursuant to section 33(1) of the GST Act (i.e. also known as the section 33(1) agent) when applying for GST registration in Singapore.
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.
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