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Singapore: GST

What you'll do: set up a Singapore company for GST, prepare the GST F5 return, and send InvoiceNow e-invoices.

The F5 figures are a preparation aid, not a filing. Check them before you file with IRAS.

Set up

  1. Pick Singapore when the company first opens. The books are in SGD, with calendar financial years (the GST periods are set in the compliance profile).
  2. Alt+K, Company details: the GST registration number (UEN or M2 format; the format is checked). Singapore has no regions.
  3. Tax rates (C, Tax Rates): your standard rate class at 9% from 2024 (earlier rates are kept by date), and zero-rated and exempt classes as needed.
  4. Create Output GST and Input GST ledgers under Duties & Taxes, with Type of tax GST.

Reverse charge on imported services and GST paid at customs are handled through tax classes. Supplies to parties abroad aren't marked as zero-rated automatically yet: give those lines a zero-rated class. Detail: Singapore GST.

The GST F5 return

  1. Alt+G, GST F5 (Singapore GST return).
  2. F2 sets the quarter.
  3. Ctrl+P prints, Ctrl+E saves a CSV. Enter the boxes on myTax Portal yourself.

The Desk shows the F5, ECI, Form C and annual return due dates once you set your GST quarters in the compliance profile.

InvoiceNow (Peppol PINT SG)

On a saved Sales invoice or Credit Note, press Ctrl+E:

  • InvoiceNow e-invoice (PINT SG) saves the e-invoice XML.
  • Send via Access Point sends it to your Peppol access point.
  • Access Point settings sets the access point's address and API key (kept on this computer).

The access point connection works with any provider, and has been tested only against our own test server. The PINT SG XML hasn't been checked with the official Schematron rules yet. Invoices in a foreign currency can't be sent as PINT SG. Detail: Peppol.

Not there yet

Filing the F5 directly, the IRAS audit file, the MES, A3PL and IGDS import schemes, and CPF payroll.