Major Exporter Scheme (MES) and GST Assisted Self-Help Kit (ASK): Enabling Seamless Cash Flow to Further Your Business


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Date:
25 April 2023, Tuesday

Time:
09.00AM - 05.00PM
Venue:
Hotel Venue to be Advised

Details/ Promotion:
Please click here for more details and here to register.
Accredited tax professionals enjoy subscribers' rate (i.e. 10% discount)!

Contact:
Please refer to organiser’s webpage here.
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Programme Synopsis

The Major Exporter Scheme (MES) is designed to alleviate the cash flow of companies that re-export a substantial amount of their imports. Companies approved under the MES can enjoy GST suspension for non-dutiable goods imported into Singapore, and on goods removed from a zero-GST warehouse.

GST-registered businesses who wish to apply for MES or existing MES traders who wish to renew their MES status, are required to perform a self-review of their past GST submissions under the GST Assisted Self-Help Kit (“ASK”).

ASK is a comprehensive self-assessment compliance package designed by IRAS to help GST-registered businesses improve their GST compliance level and review the accuracy of their GST submissions, to discover past errors early. The early detection can allow businesses to make timely voluntary disclosure to IRAS to qualify for reduced or no penalty. 

Non-MES businesses are also encouraged to adopt ASK for better GST risk management and compliance.

This workshop provides practical understanding of the MES, including its renewal process and an overview of the ASK. This will also enable businesses to implement the requisite controls before their MES application or next MES renewal. 

Programme Outline

A Highlight of Key Areas:
  • Qualifying conditions of MES 

  • Importing goods on behalf of overseas principals using MES 

  • What is ASK? 

    • Features of ASK 
    • The different sections of ASK 
      • Section 1: GST Practices 
      • Section 2: Pre-filing checklists 
      • Section 3: Annual Review 
  • IRAS’s expectations of a MES trader and the good practices you should adopt  

  • Practical steps in performing a self-review of your GST returns in accordance with the GST ASK 

  • Common errors made by MES traders and how you can make use of the Voluntary Disclosure Programme to disclose the errors made to IRAS, where the penalties could be reduced 

About the Presenter(s)/ Trainer(s)


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Ms Catherine Chiang
Chartered Accountant (Singapore)
Consul Biz Consultancy Services
Accredited Tax Advisor (GST)


Catherine has more than 20 years of experience in GST consultancy, with 10 years of training experience. She has previously spent 6 years in IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specializing in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance and GST training for clients.

Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Chartered Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an Advanced Certificate in Training and Assessment (ACTA) certified Trainer.









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