{"id":5860,"date":"2024-01-16T22:23:34","date_gmt":"2024-01-16T14:23:34","guid":{"rendered":"http:\/\/thefrederation.com\/?page_id=5860"},"modified":"2024-03-21T15:24:08","modified_gmt":"2024-03-21T07:24:08","slug":"goods-and-services-tax-gst","status":"publish","type":"page","link":"https:\/\/pioneerassociates.com.sg\/index.php\/goods-and-services-tax-gst\/","title":{"rendered":"Goods and Services Tax (GST)"},"content":{"rendered":"<p>[et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; custom_margin=&#8221;||-71px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row column_structure=&#8221;1_2,1_2&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;http:\/\/thefrederation.com\/wp-content\/uploads\/2024\/02\/GST-1.jpg&#8221; title_text=&#8221;GST&#8221; disabled_on=&#8221;off|off|on&#8221; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<h1><span style=\"font-size: 32px;\">Goods and Services Tax (GST)<br \/><\/span><\/h1>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\">G<\/span><span style=\"font-size: 18px; line-height: 27px;\">ST is a consumption tax levied on the import of goods and on most supplies of goods and services made in Singapore.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\">Businesses with taxable turnover exceeding or expected to exceed S$1 million over a 12-month period are required to comply with the provisions of the GST Act 1993. Our team of experienced professionals provides compliance support to help businesses reduce their GST risks. For example, businesses that experience rapid growth, structural changes, or that have internal resource constraints are more susceptible to incorrect reporting of GST.<\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_2&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_image src=&#8221;http:\/\/thefrederation.com\/wp-content\/uploads\/2024\/02\/GST-1.jpg&#8221; title_text=&#8221;GST&#8221; disabled_on=&#8221;on|on|off&#8221; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_image][\/et_pb_column][\/et_pb_row][\/et_pb_section][et_pb_section fb_built=&#8221;1&#8243; _builder_version=&#8221;4.21.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_row _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; inline_fonts=&#8221;lyon&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-family: lyon; font-size: 32px;\">GST registration<\/span><strong><span style=\"font-family: lyon; font-size: 32px;\"><br \/><\/span><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;2_3,1_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;3px|||||&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px\">Registration for GST under the appropriate GST scheme.<\/span><span style=\"font-size: large;\"><\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: large;\"><\/span><\/p>\n<p><span style=\"font-size: large;\"><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px\">Application for exemption from GST registration.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_text][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; inline_fonts=&#8221;lyon&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-family: lyon; font-size: xx-large;\">GST compliance<\/span><strong><span style=\"font-family: lyon; font-size: xx-large;\"><br \/><\/span><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;2_3,1_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;0px|||||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_toggle title=&#8221;Filing of quarterly GST returns&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Prepare and file GST returns.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Review of GST returns prepared in-house prior to submission to the Inland Revenue Authority of Singapore (\u201cIRAS\u201d).<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Follow up with the IRAS on GST refunds.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Appeals and objections&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">File objections against tax assessments by the Inland Revenue Authority of Singapore (\u201cIRAS\u201d).<\/span><\/li>\n<\/ul>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">File appeals against decisions made by the IRAS. Where necessary, we will work with tax lawyers during the process.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;GST training&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Conduct GST training on the requirements of GST legislation and the compliance obligations of businesses operating in Singapore.<\/span><\/p>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;GST health-checks&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Conduct GST health-checks to identify GST risks.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Provide recommendations to comply with GST regulations.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;Voluntary compliance initiatives&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Assist with adoption of Assisted Self-Help Kit to mitigate penalties.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Assist to prepare for the Assisted Compliance Assurance Programme.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;IRAS audits and investigations&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Manage GST audits or investigations conducted by the Inland Revenue Authority of Singapore (&#8220;IRAS&#8221;). <\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Assist with queries from IRAS. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Assist with negotiations with the IRAS on GST matters. Where necessary, we will work with tax lawyers during the process.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; inline_fonts=&#8221;lyon&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-family: lyon; font-size: xx-large;\">GST de-registration<\/span><strong><span style=\"font-family: lyon; font-size: xx-large;\"><br \/><\/span><\/strong><\/p>\n<p>[\/et_pb_text][et_pb_text _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px\"><span style=\"font-size: large;\">Application for cancellation of GST registration.<\/span><\/span><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; custom_padding=&#8221;||1px|||&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;4_4&#8243; _builder_version=&#8221;4.23.4&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_text _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; min_height=&#8221;33px&#8221; inline_fonts=&#8221;lyon&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<p style=\"text-align: left;\"><span style=\"font-family: lyon; font-size: xx-large;\">GST advisory<\/span><strong><span style=\"font-family: lyon; font-size: xx-large;\"><br \/><\/span><\/strong><\/p>\n<p>[\/et_pb_text][\/et_pb_column][\/et_pb_row][et_pb_row column_structure=&#8221;2_3,1_3&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; min_height=&#8221;327.4px&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_column type=&#8221;2_3&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][et_pb_toggle title=&#8221;Advise on structuring investments in the most GST-efficient manner&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; title_line_height=&#8221;1.23em&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Interpretation and application of Singapore&#8217;s GST regulations.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">GST implications of business transactions.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;GST incentives&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; body_ol_item_indent=&#8221;18px&#8221; body_ol_font_size=&#8221;18px&#8221; custom_css_free_form=&#8221;#et-main-area ul {||    padding-bottom: 0;||}||||.entry-content selector li li li { ||    list-style-type: circle !important;||}||||.entry-content selector li li { ||    list-style-type: circle !important;||}||||||.entry-content selector li li li li { ||    list-style-type: square !important;||}||||.entry-content selector li li li li li { ||    list-style-type: square !important;||}||||.entry-content selector ol ol li { ||    list-style-type: lower-roman !important;||}||||selector.et_pb_toggle ol li{||    padding-bottom: 15px !important;||}||selector.et_pb_toggle ol li li{||    padding-bottom: 0px !important;||}&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Advise on GST incentives and exemptions.<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Assist in the application for special GST schemes:<\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Major Exporter Scheme<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Approved Third Party Logistics Company Scheme<\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"list-style-type: none;\">\n<ul>\n<li><span style=\"font-size: 18px; line-height: 27px;\">Approved Import GST Suspension Scheme<\/span><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p>[\/et_pb_toggle][et_pb_toggle title=&#8221;GST due diligence&#8221; _builder_version=&#8221;4.24.2&#8243; _module_preset=&#8221;default&#8221; title_level=&#8221;h3&#8243; title_text_align=&#8221;left&#8221; title_font_size=&#8221;24px&#8221; global_colors_info=&#8221;{}&#8221;]<\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Conduct GST due diligence for mergers &amp; acquisitions transactions. <\/span><\/li>\n<\/ul>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<p><span style=\"font-size: 18px; line-height: 27px;\"><\/span><\/p>\n<ul>\n<li style=\"text-align: left;\"><span style=\"font-size: 18px; line-height: 27px;\">Advise buyers of Singapore companies with GST due diligence review.<\/span><\/li>\n<\/ul>\n<p>[\/et_pb_toggle][\/et_pb_column][et_pb_column type=&#8221;1_3&#8243; _builder_version=&#8221;4.24.0&#8243; _module_preset=&#8221;default&#8221; global_colors_info=&#8221;{}&#8221;][\/et_pb_column][\/et_pb_row][\/et_pb_section]<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Goods and Services Tax (GST) GST is a consumption tax levied on the import of goods and on most supplies of goods and services made in Singapore. Businesses with taxable turnover exceeding or expected to exceed S$1 million over a 12-month period are required to comply with the provisions of the GST Act 1993. Our [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_et_pb_use_builder":"on","_et_pb_old_content":"","_et_gb_content_width":"","om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"class_list":["post-5860","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/5860","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/comments?post=5860"}],"version-history":[{"count":12,"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/5860\/revisions"}],"predecessor-version":[{"id":7987,"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/pages\/5860\/revisions\/7987"}],"wp:attachment":[{"href":"https:\/\/pioneerassociates.com.sg\/index.php\/wp-json\/wp\/v2\/media?parent=5860"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}