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Description

With IRAS’ increasing focus on the overall GST compliance of Singapore companies, it is important to have the right skillset to identify the common GST errors in the preparation of GST returns.

Attend this practical workshop, wherein the trainer will share his “Cheat Sheet” of more than 50 detective controls that can be implemented during the review of the GST return. This “Cheat Sheet” will help you in filing your future GST returns with minimal errors.

New! The “Cheat Sheet” would also include detective controls that you can implement to detect transitional issues during the GST rate change effective 1 Jan 2023.

Programme Outline

IRAS Focus: Common Mistakes made in the GST returns

• GST fundamentals
• Time, place and value of supplies
• Omitting to account for deemed output tax
• Incorrectly zero-rating international services
• Importance of maintaining the prescribed export documentation
• Incorrect reporting of exempt supplies
• Regulation 33 exempt supplies
• Non regulation 33 exempt supplies
• Failure to perform input tax apportionment
• Errors on input tax claims
• Disallowed expenses
• Input tax denoted in foreign currency
• GST incurred on fringe benefits
• Documentation requirement
• Import suspension scheme (e.g. Major Exporter Scheme or Import GST Deferment Scheme)
• Reverse charge

The ‘Cheat Sheet’ comprises of more than 50 detective controls (including transitional issues during GST rate change w.e.f. 1 Jan 2023) that you can implement during the review of the quarterly GST returns.

IRAS Voluntary Disclosure Programme – what if you have got it wrong?

What you will learn

• Identify common errors picked up by IRAS in the filing of GST returns
• Learn how to review the GST returns effectively
• Obtain the “Cheat Sheet” to get your GST reporting right before filing
• Find out the implications of the latest GST rate change 2023 on your GST returns

Target Audience

• Accountants and Tax Professionals

Expert Speaker

Eddie Soh
With more than 20 years of practical GST experience gained from working at IRAS as a tax auditor and 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 SCTP and he speaks regularly at public GST workshops and seminars.