GST Reporting 2025: Proactive and Concrete Steps you can take in Managing GST Risks

Description

A series of GST updates since Year 2020 as well as two GST rate changes for Years 2023 and 2024 has created an exciting GST reporting environment for the GST registered community.

To kick off Year 2025 in the right footing, join us for this new series of sharing where the trainer will be touching on evergreen and essential contents and the key trends observed to aid GST registered business in aligning towards the right direction and more effective management of GST risk.

Programme Outline

• GST Value Chain
• Key Trends observed during an IRAS GST Audits in Year 2024
• What to look out for in Year 2025
• Quick run through: Supply & Purchase fundamentals
• Evergreen IRAS audit focus areas
• GST controls at entity, transactional and GST reporting levels
• How technology could aid in managing GST reporting and reducing GST risk
• GST InvoiceNow FAQs and updates
• Taking the next step

What you will learn

By the end of the workshop, you will:

• Have a good overview of recent GST updates and upcoming changes
• Have a fresh perspective of better managing GST return(s) lodgement
• Clear the air on GST audit conducted by IRAS
• Have a better idea on the evergreen GST audit focus areas
• Learn how to use GST controls to minimise GST risk arising from GST return(s) lodgement
• Know how to score closer to 10/10 for GST reporting

Target Audience

• Tax Professionals
• Accounting and Finance Professionals
• Business Owners
• Anyone interested in putting in place or tightening GST controls to minimise GST risk arising from GST return(s) lodgement

Expert Speaker

Richard Ong
Partner & Head, GST Services
RSM Tax Pte Ltd

Richard heads the GST Division in RSM Tax Pte Ltd (“RSM”). He has more than 25 years of experience in GST with the Inland Revenue Authority of Singapore (IRAS), Deloitte & Touche LLP, United Test and Assembly Center Ltd (UTAC) and RSM. His diverse background and work exposure with the tax authority, professional and commercial firms allow him to share with seminar participants a balanced view and approach towards GST risk management and compliance.

Richard has spoken at public seminars in Singapore and Malaysia on topics such as Understanding Goods & Services Tax, Managing GST Risks, GST for SME, the GST Assisted Self-help Kit (ASK) and Malaysia GST. He is also an Accredited Tax Advisor (GST) with the Singapore Chartered Tax Professionals Limited.