Seminar on Major Exporter Scheme
17 August 2018 | 9am - 11am | Singapore Marriott Tang Plaza
The previous renewal cycle was the first time many MES traders were required to perform the GST Assisted Self-Help Kit (“ASK”) annual review using an Accredited Tax Professional (“ATP”) with the Singapore Institute of Accredited Tax Professionals (“SIATP”) for the validation of the process. Many MES traders underestimated the amount of work required of the ASK annual review and some were also “surprised” by the number of errors discovered which resulted in significant rectification work and prolonged disclosure process with the Inland Revenue Authority of Singapore (“IRAS”).
Seminar on Major Exporter SchemeRegister here
Next MES renewal
MES traders will usually receive the MES renewal invitation letter from the IRAS 8-9 months prior to the MES expiry date. MES traders are still required to perform the ASK annual review using an ATP with the SIATP if they wish to renew their MES status. Alternatively, they may opt to participate in the Assisted Compliance Assurance Programme (“ACAP”) which confers various benefits including automatic MES renewal.
Join our speakers as they conduct a series of breakfast briefings to share with you the following:
- What are the IRAS’s expectations of a MES trader;
- What should you do to prepare for your next MES renewal;
- What are the common errors made by MES traders and best practices to adopt to prevent such errors;
- What is ACAP and how can you make use of ACAP participation to enjoy automatic renewal of your MES status and also establish a robust internal GST control framework?
If you have any questions, please contact Joycelyn Tan.