- Singapore’s Inland Revenue Authority issued guidance on changing GST accounting periods for registered businesses.
- Businesses are generally placed on quarterly GST filing periods based on their financial year-end.
- Companies can request a change in filing frequency, such as from quarterly to monthly, through myTax Mail, subject to approval.
- Changing a company’s financial year-end does not automatically update GST periods; a formal request is required.
- If monthly GST periods are approved, they run on a calendar-month basis.
Source: news.bloombergtax.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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