Services

Although GST was introduced in Singapore over 20 years ago, many GST-registered businesses are still challenged to implement practical processes that comply with GST rules and requirements without hampering daily operations. Businesses without internal GST expertise face a significant risk of non-compliance as they struggle to keep abreast of changes in GST rules and regulations to avoid penalties.

GST Recovered from IRAS Audits

GST remains an important source of revenue for the government with recovery from GST audits gaining momentum in recent years. The penalisation of GST-registered businesses for non-compliance sends organisations a clear signal that they should ensure accurate filing and manage GST risks diligently.

Statistics from IRAS show a substantial amount of GST recovered in recent years as a result of audits. This unveils an underlying phenomenon — GST risk management still takes a back seat as more businesses outsource their corporate tax filing to professionals but often fail to do the same when filing their GST returns.

Tax & Penalties Arising from Audits

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How RSM Assists GST-registered Businesses

We offer the full spectrum of professional GST assistance in the following areas:

Applications & Handling Query

Review and e-filing of GST returns
Conducting GST Compliance Review (GST health check)
Conducting Assisted Self-help Kit (ASK) review, including review for application and renewal of MES status
Conducting Assisted Compliance Assurance Programme (ACAP) review
Conducting GST due diligence for merger and acquisition transactions
Customised in-house GST training related to GST-registered businesses’ transactions

Periodic Support & Assisted Programmes

Review and e-filing of GST returns
Conducting GST Compliance Review (GST Healthcheck)
Conducting Assisted Self-help Kit (ASK) review
Conducting Assisted Compliance Assurance Programme (ACAP) audit
Conducting GST due diligence for merger and acquisition transactions
Conducting in-house GST training customised to specific business transactions

Consulting

Advice on GST implications involving business start-up, restructuring, new business arrangements and cross-border transactions
Assisting with dispute resolution
Review and advice on internal controls for GST reporting
Review and advice on accounting system logic for GST coding

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