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This course will be retired from ISCAccountify soon. The last day to view and complete the course is 31 October 2026. Watch today before you miss it!
Synopsis:
There were more than 300 GST-registered businesses under investigation by the Inland Revenue Authority of Singapore (IRAS) as of end-2019 for suspected Missing Trader Fraud (MTF), with a total tax amount of $450 million at stake. The legislative provisions that came into effect on 1 January 2021 to combat MTF will affect all GST-registered businesses to some extent.
This session seeks to help you understand the wide implications of the legislative rules, and the due diligence and record-keeping requirements which are required to protect your business from potential denial of input tax claims, surcharges and penalties if the business “should have known” that its transactions have a connection with a MTF arrangement.
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