On or about 7 January 2020, the Inland Revenue Authority of Singapore (IRAS) has updated its website with general tips and instructions on completing GST F5 Return.
The instructions for filing GST F5 Returns are as follows:
- GST F5 Return has fifteen boxes the taxpayer has to fill.
- The GST returns can be accessed by logging in to myTax Portal.
- Figures in the GST return must be in Singapore Currency.
- Foreign currency transactions should also be reported in Singapore currency.
- The e-File needs to be submitted with a nil return if the taxpayers have had no transactions during the prescribed accounting period.
The IRAS has also provided the e-Tax guide on How Do I Prepare My GST Return and errors commonly made by business in the GST returns for download and viewing.
The IRAS further lays down information on the 19 boxes to be filed in the GST form.
For more information, please visit the IRAS website.
Source: IRAS website, 7 January 2020