A company who has been accorded the ACAP status is required to perform a Post ACAP Review (“PAR”) and submit the GST F28 “Post ACAP review declaration” form to the IRAS. The first PAR has to be completed within 18 months from the date of the accord of the ACAP status.

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”).

How can we help?

Most of the ACAP companies who need to perform the PAR would go back to their ACAP Reviewer for assistance unless:

1. Bad experience with the initial ACAP reviewer (e.g. timeline not met, over-promise, don’t know what they are doing or both of you simply don’t have the chemistry);
2. The initial ACAP reviewer has done a great job but the quote from them for the PAR is too expensive;
3. There are specific GST issues that you want a second opinion during the PAR.

If you fall within one of the above three categories, feel free to contact us to get a quotation.