- The Inland Revenue Authority of Singapore (IRAS) has issued new guidance for GST-registered companies undergoing liquidation, outlining the GST obligations for both the company and the appointed liquidator during this process.
- Key responsibilities for liquidators include filing a notice of appointment with the Accounting and Corporate Regulatory Authority (ACRA), ensuring access to digital services through Corppass, filing necessary GST returns, making full tax payments, and applying for cancellation of GST registration within 30 days after business cessation.
- Companies in liquidation must file GST returns for periods up to the liquidation date and ensure all returns are submitted and taxes paid before dissolution, while liquidators must continue to file returns for periods after the liquidation date and retain records for five years following the company’s dissolution.
Source Orbitax
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