IRAS e-Tax guide provides an overview of the mandatory record keeping requirements for all GST registered businesses.
Business owners and the company directors are responsible to ensure that proper records are maintained and a record keeping system is implemented to ensure that all GST declarations to IRAS are duly supported.
The company must retain accounting records to explain all transactions relating to their revenue and expenditures.
The company must keep their accounting records for five (5) years.
IRAS may impose penalties, estimated revenue earned based on best judgement and disallowed claims for business expenses and capital allowances.
Our GST team has many years of experience in diverse industries and an in-depth understanding of GST requirements in Singapore.
For a custom quote, please complete the quotation form and our GST Service team will contact you for a non-obligation discussion.