With GST affecting virtually all business transactions, it is inevitable that businesses will make mistakes in their GST returns. This is evidenced by the IRAS collecting $80 million in tax and penalties from GST audits for FY2011/12*.
As the GST errors can be reduced or avoided with a better understanding of the GST rules, it is critical for the company to equip its staff with that knowledge and how the rules apply to transactions so as to mitigate the exposure to penalties. The IRAS has also indicated in its new Voluntary Disclosure Programme that penalties can only be reduced or waived for timely voluntary disclosure of such errors.
We invite you to our popular series of one-day seminar on GST where we will share with you the common errors in GST so that you can take the neccessary steps to avoid them.
The seminar will focus on the practical application of the tax and provide an opportunity for the participants to discuss their practical situations and how they can effectively manage the GST.
+ Source: IRAS Annual Report 2011/12
Should you attend?
You should attend if you do not fully understand the following:
Date & time
7 March 2013, 9am to 5.30pm | 11 April 2013, 9am to 5.30pm
S$350 - PwC clients and alumni
S$390 - Public
* Fee includes 7% GST