ASK is a self-assessment package which is designed to help GST-registered businesses effectively manage their compliance. It focuses on 3 key aspects:
- Put in place GST Practices comprising People, Record-Keeping, Systems and Internal Controls to properly handle the GST reporting of transactions;
- Assess through a Pre-Filing Checklist to ensure GST returns are correct before submission; and
- Conduct Annual Review of past GST returns for early detection of errors.
Features of ASK
There are 3 sections in the ASK package. Businesses may implement each section individually or put all 3 sections into practice.
Section 1 – GST Practices are essential requirements and good practices that businesses can include in their internal processes.
Section 2 – Pre-filing Checklists is a set of questions and answers for businesses to go through before filing the GST return to avoid making errors.
Section 3 – ASK Annual Review guides businesses on how to do a self-review of their GST returns filed in the past financial year(s).
Must all GST-registered businesses adopt ASK?
GST-registered businesses may adopt ASK on a voluntary basis.
However, conducting ASK is compulsory if you are applying for any of the following GST schemes:
a) Import GST Deferment Scheme (IGDS);
b) Approved Marine Customer Scheme (AMCS);
c) Approved Contract Manufacturer and Trader (ACMT) Scheme;
d) Approved Refiner and Consolidator Scheme (ARCS);
e) Major Exporter Scheme (MES); or
f) Approved Import GST Suspension Scheme (AISS).
or if you are renewing any of the following:
a) Import GST Deferment Scheme (IGDS);
b) Major Exporter Scheme (MES); or
c) Approved Contract Manufacturer and Trader (ACMT) Scheme.
One of the qualifying conditions for the above-mentioned schemes is to perform a self-review using ASK and submit the ASK: Declaration Form on Completing Annual Review & Voluntary Disclosure of Errors (55KB). The ‘ASK’ Annual Review must either be performed by:
i) an individual accredited with Singapore Institute of Accredited Tax Professionals ("SIATP") as Accredited Tax Advisor (GST) [ ATA (GST) ] or Accredited Tax Practitioner (GST) [ ATP (GST) ] or
ii) the GST-registered business and certified by an individual accredited with SIATP as ATA (GST) or ATP (GST), in adherence to the certification procedures set out in the GST ASK Annual Review Guide (975KB).
The ATA (GST) or ATP (GST) may either be an in-house staff or external party. Your staff may apply to be an accredited tax professional with the SIATP if he meets the requirements of passing the relevant examinations and having acquired the relevant experience.
SIATP is a tax accreditation body jointly established by the Institute of Certified Public Accountants of Singapore and the Tax Academy of Singapore. An Accredited Tax Advisor or Accredited Tax Practitioner with the SIATP would have the expertise and experience to assist businesses to better manage their tax affairs.
For more information on accreditation, please visit www.siatp.org.sg.
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What are the benefits of adopting ASK?
You will enjoy the following benefits:
a) Understand GST requirements on filing and record-keeping;
b) Review accuracy of GST submissions;
c) Reduce risks of incurring penalties on errors made;
d) Discover past GST errors early for timely disclosure to IRAS, and hence enjoy zero or reduced penalties under IRAS' Voluntary Disclosure Programme; and
e) Qualify for specific GST schemes, such as the