Course Description

Synopsis:

There were more than 300 GST-registered businesses under investigation by the Inland Revenue Authority of Singapore (IRAS) as of end-2019 for suspected Missing Trader Fraud (MTF), with a total tax amount of $450 million at stake. The legislative provisions that came into effect on 1 January 2021 to combat MTF will affect all GST-registered businesses to some extent.
 
This session seeks to help you understand the wide implications of the legislative rules, and the due diligence and record-keeping requirements which are required to protect your business from potential denial of input tax claims, surcharges and penalties if the business “should have known” that its transactions have a connection with a MTF arrangement.

Intended For:

• Audit Professionals / PAIP 
• Finance Professionals  / PAIB 
• C-suite & Directors
• Business Owners

Competency Mapping: 

• CPE Category Others = 1.0 CPE Hour