IRAS issues third edition of the ASK e-Tax Guide

23 April 2013

On 19 April 2013, the Inland Revenue Authority of Singapore (IRAS) issued a third edition of the ‘GST: Assisted Self-help Kit (ASK) Annual Review Guide’.

The  ‘Assisted Self-help Kit’ (ASK), is a self-assessment package designed to facilitate voluntary compliance of GST registered businesses.

It comprises three key aspects:

  • GST Practices comprising people, record-keeping, systems and internal controls to ensure overall GST compliance.
  • Pre-filing checklist to perform a quality check on the GST returns before submission
  • Annual Review of past GST returns for early detection of errors.

A summary of changes contained in this edition is as follows:

  • ‘Appendix 2 – Summary of Certification Procedures (For Reference only)’ was inserted.
  • ‘Step 3C – Check your Exempt Supplies’ and ‘Step 3D – Check your Input Tax and Refunds Claimed’ are updated due to legislative changes (Investment Precious Metals and eTRS).
  • Sample size revised in ‘Step 3D – Check your Input Tax and Refunds Claimed’ for Tourist Refund Claims and Bad Debt Relief.
  • Flowchart updated in ‘Step 5 – Quantify your Errors (if any) and Submit your Findings to IRAS for Review’ to revise the periods to quantify GST error.
  • Existing paragraphs reformatted and reinserted.

Source: This article was extracted from the Inland Revenue Authority of Singapore (IRAS) website.