Saasu supports Singapore Zone for GST Tax, Tax Invoices and Self Billing. GST support for Singapore was effective 20th August 2009.
- GST0: Zero rate 0%
- GST7: Standard rate 7%
- GSTE: Exempt
Saasu supports the following tax invoice requirements of the IRAS (Inland Revenue Authority of Singapore) under Regulation 11 of GST (General) Regulation. See IRAS website for details:
- the words “tax invoice” in a prominent place
- an identifying number
- the date of issue of the invoice
- the name, address and registration number of the supplier
- the name and address of the person to whom the goods or services are supplied
- a description sufficient to identify the goods or services supplied and the type of supply
- for each description, the quantity of the goods or the extent of the services and the amount payable, excluding GST
- any cash discount offered
- the total amount payable excluding GST, the rate of GST and the total GST chargeable shown as a separate amount
- the total amount payable including the total GST chargeable and
- if the amount under (i) to (j) above is in foreign currency, the corresponding Singapore currency has to be indicated
Handling unsupported Tax Invoice requirements
The rate of GST – add " All items in this invoice include GST of 7% " or similar into the invoice displayed notes or template screens.
Saasu supports the Self Billing as a selectable option in Purchase transactions. Please see the IRAS Checklist for Self Billing information as to the suitability for your business to use this feature.
Does Saasu meet the IRAS requirements?
No Saasu doesn’t yet meet the requirements but we are gradually getting there. When we completed all the requirements we will acknowledge this via the IRAS’ Accounting Software Register
Does Saasu support historical GST rates?
Saasu supports only the 5% GST rate that was in effect from 2004 to 30 June 2009.
From 19th August 2009 Saasu supported the 7% rate effective from 1 July 2007 and the zero-rate GST. Prior to this customers need to add the GST 7% rate in Settings > Manage Tax Codes.
How does Saasu support Singapore tax codes?
Saasu has a Tax Code report which is used by many Zones Saasu supports. This report can provide both detailed and summary information on VAT, GST and other types of Sales and Consumption Tax. You can use this report for Singapore to see GST related information.
Using the Tax Report
For this report to work in your Zone make sure you setup your file with the correct zone. You do this when you subscribe. If you can’t remember goto Settings and choose File Identity to learn what zone your File is. If you didn’t do this correctly for your Zone you can go to the Cog icon > Manage Subscription to see your list of Files and then delete the file to free up the ability to add a new one with the correct Zone selected when asked. (NOTE: If you have been using the file you’ll need to exporting all your data first and then Import and enter the data into the new file.)