{"id":1492,"date":"2019-09-29T17:10:39","date_gmt":"2019-09-29T09:10:39","guid":{"rendered":"http:\/\/ehluar.com\/main\/?p=1492"},"modified":"2020-01-25T17:16:57","modified_gmt":"2020-01-25T09:16:57","slug":"gst-renewal-of-assisted-compliance-assurance-programme-acap-status-revised","status":"publish","type":"post","link":"http:\/\/ehluar.com\/main\/2019\/09\/29\/gst-renewal-of-assisted-compliance-assurance-programme-acap-status-revised\/","title":{"rendered":"GST: Renewal of Assisted Compliance Assurance Programme (ACAP) Status revised"},"content":{"rendered":"\n<p>On or about 29 October 2019, the Inland Revenue Authority of Singapore   (IRAS) has published the second edition of the e-Tax Guide GST: Renewal of Assisted Compliance Assurance Programme (ACAP) Status. It replaces the first edition published on 1 July 2016. <\/p>\n\n\n\n<p>In second edition, the following revisions were made: <\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>editorial changes<\/li><li>amended para 3 to include an independent in-house Internal Audit team in the definition of ACAP Reviewer<\/li><li>amended s 1.15 (Identify Major Income and Expenditure Streams and  Transactions with High Risk of Incorrect GST Treatment or Omission from GST Returns) and inserted footnotes 18\u201320<\/li><li>amended s 1.23 (Perform GST Trend Analysis and Review Anomalies) and inserted footnotes 23 and 24<\/li><li>amended s 2.4(b) (Review Information Represented by ARA) and 2.7(c) (Select 3-Month Test Period)<\/li><li>inserted s 3.2(a)(vi)\u2013(viii) (Interview and Walk-through of Controls at Transaction Level)<\/li><li>amended s 3.3(c), 3.5 and 3.8(a) (Minimum Number of Transactions for the Conduct of Walk-through)<\/li><li>inserted s 4.4(d) and 4.5 (s 4: Review of New Processes &amp; Perform Controls Testing)<\/li><li>amended s 5.1 (Scope of Review)<\/li><li>inserted s 5.3(d), (g)\u2013(i) and footnote 31<\/li><li>amended s 5.3(e)<\/li><li>inserted s 5.4(b), (c), (e) and (f)<\/li><li>amended s 5.5, 5.7, 5.11 (Sample Size) and inserted footnote 35<\/li><li>amended s 7.3(b) (s 1 \u2014 Business Information)<\/li><li>Appendix 2 \u2014 Information Leaflet on Post ACAP Review (PAR) after ACAP Renewal <ul><li>inserted para 2.7\u20132.9 (Review of new processes) and footnote 38<\/li><li>amended para 3.1 (Review period for PAR after ACAP Renewal) to include illustration<\/li><li>removed footnote 40, and<\/li><li>amended para 4.1 (Sample size for substantive review)<\/li><\/ul><\/li><li>Appendix 4 \u2014 Common GST Risks at Transaction and GST Reporting Level <ul><li>inserted risks 2, 3(i)\u2013(l), 5 and 15 at Sales Transaction Level<\/li><li>inserted risks 5\u20137, 18 and 19 at Purchases Transaction Level<\/li><li>inserted risks 20(d) and 22 at Purchases Transaction Level, and<\/li><li>amended risk 3(a).<\/li><\/ul><\/li><\/ul>\n\n\n\n<p> For more information, please visit the IRAS website.<\/p>\n\n\n\n<p>Source: IRAS website, 29 October 2019<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On or about 29 October 2019, the Inland Revenue Authority of Singapore (IRAS) has published the second edition of the e-Tax Guide GST: Renewal of Assisted Compliance Assurance Programme (ACAP) Status. It replaces the first edition published on 1 July 2016. In second edition, the following revisions were made: editorial changes amended para 3 to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"off","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[9,6],"tags":[],"class_list":["post-1492","post","type-post","status-publish","format-standard","hentry","category-gst","category-techupdates"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1492","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/comments?post=1492"}],"version-history":[{"count":1,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1492\/revisions"}],"predecessor-version":[{"id":1493,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/posts\/1492\/revisions\/1493"}],"wp:attachment":[{"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/media?parent=1492"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/categories?post=1492"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/ehluar.com\/main\/wp-json\/wp\/v2\/tags?post=1492"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}