0
IRAS Audit Spotlight : GST Input Tax
In-Person


7

CPD Hours Awarded

In Stock

$470.00/Pax

Date: 22 September ( Tuesday )

Time: 9am-5pm

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 available in the training room for you to charge your digital device.

 

Participant (In Person) 1

Events/Attendees Discount Discounted price
2 5% $446.50
3 - 999 10% $423.00


Sign up for 1 event with 2 attendees: 5% discount
Sign up for 1 event with 3 or more attendees: 10% discount

Sign up for 2 events: 5% discount
Sign up for 3 or more events: 10% discount

Above discounts are only applicable per checkout

In FY2024/2025 alone, 2,869 GST audits were conducted across a broad spectrum of industries. These audits led to the recovery of over $205 million, including penalties. One of the most glaring mistakes discovered is in the area of incorrect input tax claims, and substantial amount in GST and penalties are recovered yearly from each business due to errors in this area.

Some errors IRAS have uncovered in the course of their audits include:

  • Dormant businesses making input tax claims in the absence of taxable supplies
  • Input tax claims not supported by tax invoices / import permits addressed to the businesses or simplified tax invoices
  • Input tax claims made on disallowed expenses
  • Input tax claims made on private expenses

A good understanding of input tax recovery rules is crucial in delivering optimal GST claims incurred on purchases, whilst mitigating the risk of penalties. With a clear understanding of these rules, you will know how to examine the conditions that determine when GST can be recovered and how to correctly post the accounting entries for purchases by applying the correct tax treatment for each transaction.

This practical workshop is designed to give you more clarity in the key areas of concern on the recovery of GST on purchases. Our highly experienced trainer will also share on the common input tax errors made by businesses and how you can avoid them.

Input Tax Recovery Rules

  • Qualifying conditions
  • Disallowed / blocked expenses
  • Time of claiming

When can GST be Claimed

  • Claiming input tax in the right accounting period
  • Evidence needed to claim GST
    • Tax invoice
    • Customer Accounting Tax Invoice
    • Simplified invoice
    • Import permit
  • Purchases by employees

Determining the Amount of GST to Claim

  • De-minimis rule
  • Attribution / apportionment
  • The impact of partial exemption

Specific Expenses

  • Gifts
  • Fringe benefits
  • Business entertainment
  • Imported services and Imported Low Value Goods
  • Prescribed Goods under Customer Accounting

Common Errors to avoid Input Tax Claims

  • Understanding the common errors, and avoid making them in your claims

Key Learning Points in Recent Tax Case

    • GHY v. Comptroller of Goods and Services Tax : The GST Board of Review upheld a decision of the GST Comptroller denying the input tax claim of a taxpayer on its purchase of goods from a local supplier on the grounds that it failed to prove that goods were purchased and traded.
  • Tax Professionals and Executives
  • Accounting and Finance Professionals
  • Business Managers and Directors
  • Anyone who would like to have or require a practical knowledge of GST Input Tax in his/her professional role

Catherine Chiang
 ATA (GST), BAcc (Hons)

 Catherine has more than 20 years of experience in GST consultancy, with more than 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance and GST training for clients.

Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Chartered Tax Professionals and an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.