Current Areas of GST Audits by IRAS – Under-declaration of Supplies IRAS is actively auditing GST-registered sole proprietors who have failed to report the correct amount of supplies and output tax in their GST returns. Key Considerations: As a GST-registered sole proprietor, you might assume that only one of your businesses is subject to GST. … Read more
Sale of Commerical/Industrial (Non-Residential) Property: GST Considerations The Inland Revenue Authority of Singapore (IRAS) conducts audits on businesses selling non-residential properties. GST-registered businesses must charge and account for GST on the sale of business assets, including non-residential properties, based on the consideration received from the sale. Key Points to Note When Selling Properties When to … Read more
Current Areas of GST Tax Audits by IRAS Businesses with Low-Value GST Refund Claims In line with its risk-based compliance strategy, IRAS has initiated an audit programme targeting GST-registered businesses that have made low-value GST refund claims. The aim is to ensure that these businesses comply with GST regulations and that their refund claims are … Read more
Voluntary GST Registration in 2025: Your Trusted Guide Voluntary GST registration in Singapore can feel confusing, time-consuming, and even costly—especially if done too early or without proper planning. Many small business owners worry about the administrative burden, fear losing price-sensitive customers, or feel uncertain about the long-term tax impact of skipping early registration. This guide … Read more
Claiming Back GST on Non-Residential Property Purchases in Singapore Acquiring non-residential property in Singapore involves significant investment, including expenses such as stamp duty and agent’s fees. Fortunately, businesses can recover some of these costs by claiming the 9% Goods and Services Tax (GST) paid on the property purchase, provided certain conditions are met. If the … Read more
GST on Rental or Sale of Commercial and Industrial Properties – Are They Claimable? Unlike residential properties, commercial and industrial properties are generally subject to Goods and Services Tax (GST) on both rental and sale transactions—provided the landlord or seller is GST-registered. Can You Claim These GST Charges? If your company is GST-registered, then yes—GST … Read more
The Ultimate Guide to GST Registration in Singapore In Singapore, GST registration is a critical step for businesses—cross the S$1 million revenue mark, and the Inland Revenue Authority of Singapore (IRAS) expects you to take action fast. The challenge? Many business owners aren’t sure when they cross that threshold or what to do next. If … Read more
GST Audit Services in Singapore What is GST in Singapore? Goods and Services Tax (GST) is a consumption tax levied on the supply of goods and services in Singapore, introduced in April 1994. Since then, the rules and regulations have evolved significantly. At WLP, our team of experienced GST specialists ensures your business remains compliant … Read more
GST Assisted Self-Help Kit (ASK) Review Services in Singapore What is the GST Assisted Self-Help Kit (ASK)? The GST Assisted Self-Help Kit (ASK) is a self-assessment tool designed to assist GST-registered entities in managing their compliance effectively. It focuses on three key areas: Establishing GST Practices, which include People, Record-Keeping, Systems, and Internal Controls to … Read more
Preparing for the GST ASK Review Overview While the concept of Goods and Services Tax (GST) may seem straightforward, compliance can be quite complex. Through our Assisted Self-help Kit (ASK) Annual Reviews, conducted in line with guidelines from the Inland Revenue Authority of Singapore (IRAS), we’ve consistently identified errors in nearly every case we’ve handled. … Read more