- IRAS has released the 18th edition of the GST Major Exporter Scheme (MES) e-Tax Guide.
- MES helps import-export businesses improve cash flow by letting approved firms defer GST payment on imports and warehouse removals.
- Eligible businesses must be GST-registered, compliant, well-controlled, and have zero-rated supplies exceeding 50% of total supplies or S$10 million in the last 12 months.
- New approvals usually last 3 years, while renewals can last up to 5 years.
- Renewal requires an ASK Annual Review certified by an accredited tax professional.
Source: regfollower.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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