What Does It Mean to Deregister for GST? In Singapore, businesses that are registered under the goods and services tax (GST) regime with the Inland Revenue Authority of Singapore (IRAS) may sometimes choose – or be required – to cancel their GST registration. Deregistering for GST means the business will no longer charge GST on … Read more
Common Business Valuation Mistakes You Should Avoid Valuing a business is more than just crunching numbers – especially in a vibrant market like Singapore. A proper valuation informs strategic decisions, supports investment and M&A activity, and guides future planning. Yet many organisations stumble by overlooking key factors. Here are common valuation mis-steps—and how you can … Read more
What is the Import GST Deferment Scheme (IGDS)? The Import GST Deferment Scheme (IGDS) was introduced in Singapore in the 2010 Budget to help GST-registered importers manage cash-flow pressure. Under IGDS, importers are permitted to defer the payment of import GST from the moment of importation until the filing of their GST return. This essentially … Read more
Avoid These Common GST Filing Mistakes: A Guide for Businesses (with WLP Accounting) When managing your business’s GST filings, it’s easy to overlook small details that can result in costly mistakes. GST (Goods and Services Tax) is a crucial part of any business operation in many countries, and proper compliance is necessary to avoid penalties … Read more
Simplify Your GST Filing with InvoiceNow: A Complete Guide with WLP Expert Assistance In the modern digital age, businesses are increasingly turning to efficient and automated solutions for managing their tax-related tasks. One such solution is InvoiceNow, a government-supported electronic invoicing system in Singapore designed to simplify the Goods and Services Tax (GST) filing process. … Read more
Comprehensive Guide to GST ACAP Services by WLP Maximizing Your GST Compliance and Efficiency When it comes to managing Goods and Services Tax (GST) in Singapore, businesses face numerous challenges. Staying compliant with the regulations, handling complex tax matters, and ensuring timely submissions can be overwhelming. That’s where GST ACAP Services come in. These services … Read more
Mastering When to Charge GST in Singapore: Expert Insights with WLP 1. What Is GST and When Must You Register? Goods and Services Tax (GST) is a consumption tax applied to most goods and services in Singapore. Registered businesses collect GST from customers and remit it to IRAS. The current standard rate is 9%. Certain … Read more
A Comprehensive Guide to GST Return Filing in Singapore In Singapore, Goods and Services Tax (GST) is an essential component of the tax system. As a business owner, staying compliant with GST regulations is crucial. Failing to file GST returns accurately can lead to penalties and interest charges. In this comprehensive guide, we’ll take … Read more
GST ASK Review in Singapore: What Businesses Need to Know Singapore’s tax landscape continues to evolve, and for GST-registered businesses, maintaining compliance is critical. One essential tool designed to support this is the GST Assisted Self-help Kit (ASK) Review — a voluntary self-assessment framework developed by the Inland Revenue Authority of Singapore (IRAS). Whether … Read more
Complete Guide to GST Return Filing in Singapore: Tips and How WLP Can Help If you are a business owner in Singapore, understanding Goods and Services Tax (GST) return filing is essential for compliance with the Inland Revenue Authority of Singapore (IRAS). GST is a broad-based consumption tax that businesses need to handle correctly … Read more