IRAS’s Latest GST Audit Focus: Essential Controls to Handle GST Audits with Confidence
August 17, 2024
IRAS’s Latest GST Audit Focus: Essential Controls to Handle GST Audits with Confidence

When it comes to GST audits, being prepared isn’t just about compliance checklists—it’s about truly understanding where IRAS is focusing its audit lens and ensuring your internal processes, systems, and controls are aligned accordingly. Having all these in place will reduce the likelihood of panic as it would be way too late to prepare only when you are being called for audit.

IRAS adopts a risk-based approach in selecting businesses for GST audits. In FY2024/2025 alone, more than 2,800 GST audits were conducted across a broad spectrum of industries. These audits led to the recovery of over $205 million, including penalties—underscoring the importance of robust GST risk management.

Recent audit trends show heightened scrutiny in several key areas, including:

  • Transaction-level accuracy for supply and purchase records
  • Recovery of business expenses
  • Correct application of deeming provisions
  • Proper documentation to support zero-rating and input tax claims

Join us for an insightful session where the speaker—drawing on nearly 25 years of experience spanning IRAS, a Big 4 firm, a recognised test and assembly MNC, and multiple industries including manufacturing, aerospace, logistics, tech platforms, real estate, fund management, shipping, and commodities—will walk you through practical lessons and industry-tested approaches to GST compliance.

The key takeaway: Ensuring that your GST classifications are defensible and your GST controls are audit-ready.

  • GST Value Chain – understanding the end-to-end flow
  • Supply & Purchase Fundamentals – 6 critical considerations for each side
  • Zero-Rating Made Simple – with practical illustrations
  • IRAS’s Evergreen Audit Focus – what has changed, and what hasn’t
  • Expense Recovery – disbursements vs. reimbursements: how to tell them apart and apply GST correctly
  • Payroll Deductions – uncovering hidden GST risks
  • Employee Benefits – applying the “close nexus” test and IRAS’s evolving view on business purpose
  • Digital Tools in GST Risk Management – how automation supports compliance
  • GST InvoiceNow – latest developments and what to expect
  • Taking the Next Step – practical actions to future-proof your GST processes

As part of our commitment towards minimizing carbon footprint and contributing to a healthier planet, we will only be issuing the soft copy of the training materials.

The training materials will be emailed to you 2 days before the workshop. Charging points are also available in the training room to charge your digital device.

 

  • Business owners, finance leaders, GST reporting officers, accounting and tax professionals—anyone responsible for navigating GST risks and ensuring compliance within their organisation.

Richard Ong
Partner & Head, GST Services
Richard Ong

Richard heads the GST Division in RSM Tax Pte Ltd (“RSM”). He has more than 25 years of experience in GST with the Inland Revenue Authority of Singapore (IRAS), Deloitte & Touche LLP, United Test and Assembly Center Ltd (UTAC) and RSM. His diverse background and work exposure with the tax authority, professional and commercial firms allow him to share with seminar participants a balanced view and approach towards GST risk management and compliance.

Richard has spoken at public seminars in Singapore and Malaysia on topics such as Understanding Goods & Services Tax, Managing GST Risks, GST for SME, the GST Assisted Self-help Kit (ASK) and Malaysia GST. He is also an Accredited Tax Advisor (GST) with the Singapore Chartered Tax Professionals ( SCTP ).

 

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