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Get Knowledge on the Missing Trader Fraud


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Recommended:
- Learn about the Knowledge Principle and what else you should know in the new e-Tax guide
Date:
08 April 2021, Thursday

Closing date: 1 April 2021, Thursday or when spaces are filled

Registration
Notify Me of Next Session
Time:
11.00 - 11.45AM

(Tech check from 10.45am.)

Venue:
Online Classroom

CPE Hours (Income Tax):

0 hour(s)

CPE Hours (GST):

0.75 hour(s)

Fees:
Complimentary
Contact:
Contact Nabila (6597 5714), Elaine (6597 5718) or enquiry@sctp.org.sg
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Programme Synopsis

Following the enactment of legislation on 1 January 2021 to tackle Missing Trader Fraud (MTF), the Inland Revenue Authority of Singapore (IRAS) published its e-Tax Guide “GST: Guide on Due Diligence Checks to Avoid Being Involved in Missing Trader Fraud” in early February.

The new e-Tax guide introduces the Knowledge Principle whereby a GST-registered business risk losing its input tax claims if it knew or “should have known” that its transactions were part of a MTF arrangement. As a result, the IRAS has added a new condition to claiming input tax which requires the GST-registered business to take reasonable steps to ascertain and conclude that the goods or services were not part of a MTF arrangement and the conclusion is one that a reasonable person would have made.

As the new rules cover all goods and services and apply to all GST-registered businesses, join in this upcoming webinar as the Singapore Chartered Tax Professionals invites Accredited Tax Advisor (GST) Mr Koh Soo How from Koh SH & Associates Pte Ltd to share his insights on the IRAS’ new e-tax guide and what is expected of you if you wish to protect your organisation from a MTF arrangement and preserve your input tax claims.

Programme Outline

  • Know how the legislation is to be applied by the tax authority
  • Understand what the term “should have known” entails 
  • Be aware of the systematic approach to take in establishing what you “should have known”
  • Grasp the essential pointers of what is covered (and not covered) in the guide to avoid being part of an MTF arrangement

About the Facilitator(s)


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Mr Koh Soo How
Partner – GST
Grant Thornton Singapore
Accredited Tax Advisor (GST)


Soo How leads Grant Thornton Singapore’s GST practice and has over 25 years of knowledge and experience in indirect tax. He started his career in indirect tax with the IRAS as a senior member of the core team that introduced the GST in Singapore in 1994. ​

Before joining Grant Thornton, Soo How ran his own indirect tax advisory firm and was also previously a Partner at one of the Big 4 firms where he nurtured the growth of its indirect tax practice and led the firm’s Asia Pacific indirect taxes network. ​

As an established professional in GST, Soo How had been appointed by the Minister for Finance for two terms from Jan 2013 to Dec 2018 as a member of the GST Board of Review, which is an administrative tribunal established to adjudicate disputes between businesses and the Comptroller of GST.

Soo How has been consistently named as one of the world’s leading indirect tax advisors by International Tax Review for over a decade in recognition of his practical advice and solutions.​

He is an Accredited Tax Advisor (GST) with the Singapore Chartered Tax Professionals (SCTP) and sits on its GST committee.



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