The Ultimate GST Guide
Your comprehensive guide to Goods and Services Tax compliance in Singapore.
Filing GST Returns, Deadlines & Compliance
Maintaining compliance requires strict adherence to corporate bookkeeping and filing timelines set by IRAS.
Filing Requirements (Form F5)
GST returns must be e-Filed electronically via myTax Portal using Form F5. Returns are usually filed on a quarterly basis, though some businesses may apply for monthly filing. You must file a return even if there was no business activity (a 'Nil' return).
Compliance Deadlines
The deadline for submitting GST returns and making payment is one month after the end of each prescribed accounting period. For example, the return for the quarter ending March 31 must be submitted and paid by April 30.
Late Filing & Payment Penalties
Failing to file or pay on time leads to immediate penalties:
- Late Filing: A penalty of S$200 is imposed for each month the return is late (capped at S$10,000).
- Late Payment: An immediate 5% penalty is imposed on the unpaid tax. If tax remains unpaid for over 60 days, an additional 1% penalty per month is charged (capped at 12%).
Record Keeping
Under Singapore law, all GST-registered businesses must keep their business and accounting records (invoices, receipts, import/export permits) for at least 5 years.
