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$175m in GST and penalties recovered by Iras; funeral operators particularly susceptible to tax offences
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A GST input tax claim allows GST registered businesses to recover the GST paid on business-related purchases and expenses. But when the invoice doesn’t meet requirements, rejection is the outcome. Our detective uncovers the 5 must-haves for bulletproof tax invoices: 1. The words “Tax Invoice” 2. Supplier’s information 3. Customer’s details 4. Invoice particulars 5. Amount breakdown Does your GST input tax claim survive? 🔍 Learn more: go.gov.sg/irasgst-invoicing-video | IRAS
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The taxman recovered a total of $175 million in GST and penalties between January and September this year. Find out how officers at Iras uncover companies or individuals who evade their taxes or GST. https://str.sg/J3Xn | The Straits Times
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