Singapore GST: Practical Guide to GST Compliance & Reporting - 17th Run

Singapore's Goods and Services Tax (GST) regime involves various rules and requirements that finance, accounting and tax professionals must understand to ensure accurate GST accounting, reporting and compliance.

This practical two-day webinar provides a comprehensive understanding of Singapore GST, covering the fundamental principles, GST treatment of common business transactions, input tax claims, international services, imports and exports, as well as reimbursements versus disbursements.

Participants will gain practical insights into identifying the correct GST treatment of business transactions, avoiding common GST reporting errors and fulfilling their GST compliance obligations.

The programme is particularly relevant for both Singapore-based and overseas-based finance, accounting and tax personnel who are responsible for Singapore GST accounting and reporting, including those working in regional offices, multinational corporations and shared services centres.

Whether you are new to Singapore GST or an experienced finance professional seeking to refresh and update your knowledge, this webinar will provide practical guidance to help you manage Singapore GST requirements more confidently and accurately.

Key Topics

Day 1 (9.00am to 12.30pm)

• Introduction
• Overview & Basic Concepts of GST
• Types of Supply
• Output Tax vs Input Tax
• Tax Invoice, Simplified Tax Invoices & Receipts
• Foreign Currency Invoice
• Credit Notes & Debit Notes
• Claiming of Input Tax
• Bad Debt Relief
• Fringe Benefits - Update on Closed Nexus Test
• Recap

Day 2 (9.00am to 12.30pm)

• Imports
• Ownership of Goods
• Exports
• International Services
• Absorption of GST
• Price Displays
• Reimbursement vs Disbursement
• Open Market Value
• Disposal of Business Asset
• Purchase of a Brand New Motor Vehicle
• Sale of Second-Hand Motor Vehicle
• Discounts vs Rebates
• Sponsorships
• Free Samples
• Deposits
• Penalties & Interest
• Reimbursement of Handphone BIlls
• Entertainment & Office Expenses
• Incidental Expenses
• Record-keeping
• Recap

Who Should Attend

This webinar is designed for professionals who are involved in the accounting, finance, tax and GST compliance functions of Singapore businesses.

It is particularly relevant for:

• Finance and accounting executives responsible for preparing and reviewing GST returns (GST F5).
• Tax professionals and tax managers involved in Singapore GST compliance and reporting.
• Overseas-based finance and accounting personnel working in regional offices or shared services centres who are responsible for Singapore GST reporting.
• Finance personnel in multinational corporations and Singapore subsidiaries whose accounting and tax functions are managed outside Singapore.
• Employees of outsourced accounting firms and service providers handling GST compliance for Singapore-registered businesses.
• Accounts personnel responsible for recording transactions, determining GST treatment and claiming input tax.
• Newly appointed finance and accounting staff who need to understand Singapore GST requirements.
• Existing finance and accounting professionals who wish to update their knowledge of Singapore GST regulations and compliance requirements.