With effect from 1 Feb 2014, the IRAS has allowed input tax to be claimed using simplified tax invoices (instead of normal tax invoices) for food & beverages incurred on entertainment expenses which exceed $1,000.
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In light of the latest measures that the government has introduced to combat COVID-19 last week, the filing due date for all GST returns due in Apr 2020 will be automatically extended to 11 May 2020.
Common errors on input tax claims explained using an info video from IRAS Around 3,000 GST-registered businesses are selected by the IRAS for audit every year. The most common mistakes discovered are