• Goods & Services Tax (GST)

Goods & Services Tax (GST)

It has been twenty years since the implementation of GST in Singapore. However, complying with the GST rules and requirements is still a challenge to most companies. With the step-up audits by the Inland Revenue Authority of Singapore (IRAS) and the foreseeable increase in the GST rate in the upcoming years, more focus should be placed on your GST compliance. In BDO, we have a GST specialist team who can provide practical and timely advice to support you in your day-to-day GST tasks as well as taking a pro-active approach in managing your GST risks.

How BDO can help?

Incorporation of businesses

  • Assess registration liability
  • Apply for GST registration/exemption from GST registration
  • Apply for GST group registration, GST schemes (e.g. Major Exporter Scheme, Import GST Deferment Scheme)
  • Advise on start-up issues (e.g. GST coding in system, procedure manual on GST treatment)

GST Compliance

  • Assist with claiming of pre-registration input tax claims
  • Review and e-filing of GST returns
  • Perform one-off GST return review
  • Perform GST health check reviews
  • Assisted Self-Help Kit (ASK) reviews for the application/renewal of GST schemes/voluntary disclsoure of errors
  • Assisted Compliance Assurance Programme (ACAP)
  • Conduct GST training

GST Advisory

  • Advise on GST treatment of day-to-day business transactions
  • Advise on GST implications of new business models or cross-border transactions
  • Perform due diligence reviews

IRAS Audits/Investigation

  • Manage tax audits/tax investigation process with the IRAS
  • Assist with replies to the IRAS’ queries
  • Assist with objection/appeal to the IRAS’ decisions
  • E-filing of GST F7 (Disclosure of Errors on GST Return) returns

Cessation of Business

  • Apply for cancellation of GST registration
  • Advise on GST implications of GST de-registration, liquidation process
  • Advise on the GST implications of the transfer of business
  • Review and e-filing of final GST returns

Our GST team

In BDO, we have a team of dedicated GST specialists who have substantial experience from the GST departments in the IRAS and Big Four international accounting firms. With the wealth of experience gained, we are well placed to provide you with practical guidance on your GST matters.