Q:
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When is the filing due dates for GST returns?
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A:
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The GST return and payment are due one month after the end of the accounting period covered by the return.
A GST-registered business must file a “Nil” GST return even if there was no business activity during the accounting period. If your business has ceased, you had to apply for cancellation of GST registration.
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Q:
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What are the consequences for late / non-filing of tax returns?
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A:
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IRAS may take the following actions if businesses fail to file the GST return before the due date.
Issue an estimated Notice of Assessment (NOA) and impose a 5% penalty on the estimated tax.
Impose a late submission penalty, and/or
Summon the business or person responsible for running of the business (including the sole-proprietor, partner and director) to Court.
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Q:
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How much is the imposition of late submission penalty?
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A:
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Late submission penalty of SGD200 is imposed immediately once the GST return is not filed before the due date. A further penalty of SGD200 will continue to be imposed of every completed month that the GST F5/F8 return is outstanding, till the maximum of SGD10,000 each outstanding F5/F8 return.
Businesses must still file the overdue return after they pay the late submission penalty as they can be prosecuted if the return is not filed.
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Q:
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What is estimate Notice of Assessment (NOA)?
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A:
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IRAS will issue an estimated NOA and impose a 5% late payment penalty on the estimated tax if a business fails to file its GST returns as required.
If a business receives an estimated NOA, it must:
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Immediately file its GST return to declare its actual GST liability and get the estimated NOA revised.
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2.
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Pay the estimated tax inclusive of 5% penalty before the due date stated on the late payment penalty notice.
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Note : The NOA for the estimated GST payable can only be revised if the GST F5/F8 is submitted within five years from the end of the relevant accounting period.
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Q:
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How to file outstanding tax returns?
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A:
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Businesses are to e-File the GST F5/F8 via myTax Portal using CorpPass.
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Q:
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How to pay the late submission penalty?
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A:
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The late submission penalty must be paid along with the GST payments. Enforcement actions may still be taken against businesses if the late submission penalty remains unpaid.
For businesses that make for GST via GIRO, the penalty will be deducted via GIRO on the 15th of the month after the due date indicated in the penalty notice.
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Q:
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How to appeal against the late submission penalty?
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A:
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Appeals can be made online via myTax Portal and will only be considered if the following conditions are fully met.
The business has submitted the outstanding tax returns; and
The business has paid all the overdue GST; and
The business has filed on time in the past two years.
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