What goes into each box - Singapore GST F5 Return
Nondeductible tax codes created by checking the 100% Non-deductible box on the Tax Code page is not supported. If you want to create nondeductible tax codes that will work with International Tax Reports SuiteApp, see Setting Up Nondeductible Input Tax.
The following table shows how NetSuite uses the tax codes to get the values for the Singapore GST F5 Return.
Box |
|
Tax Codes |
Amount |
---|---|---|---|
Supplies |
|||
1 |
Total value of standard-rated supplies |
Sales NET amount SR-SG, DS-SG,SRCA-S-SG, SROVR-RS-SG, SROVR-LVG-SG, SRLVG-SG + Purchases NET amount SRRC-SG, SRCA-C-SG |
Net amount |
2 |
Total value of zero-rated supplies |
Sales NET amount ZR-SG |
Net amount |
3 |
Total value of exempt supplies |
Sales NET amount ES33-SG, ESN33-SG |
Editable field but defaults to net amount of transactions with tax property ‘Exempt' (ES33 and ESN33 tax codes) Absolute value of net realized gain/loss arising from customer payments in foreign currency |
4 |
Total value of (1)+(2)+(3) |
Boxes 1+2+3 |
|
Purchases |
|||
5 |
Total value of taxable purchases |
Purchases NET amount TX-SG, TX-E33-SG, TXCA-SG, TXCA2-SG, TX-N33-SG, TX-RE-SG, ZP-SG, IM-SG, ME-SG |
Net amount |
Taxes |
|||
6 |
Output tax due |
Sales Tax Amount SR-SG, DS-SG, SROVR-RS-SG, SROVR-LVG-SG, SRLVG-SG + Purchases Notional Amount SRRC-SG, SRCA-C-SG |
Editable field but defaults to the amount of GST output tax from the Saved Report |
7 |
Input tax and refunds claimed |
Purchases Tax Amount TX-SG, IM-SG, TX-E33-SG, TX-N33-SG, TX-RE-SG + Purchases Notional Amount TXCA-SG, TXCA2-SG |
Editable field but defaults to the amount of GST input tax from the Saved Report |
8 |
Equals: Net GST to be paid to IRAS |
Box 6 - Box 7 |
|
Applicable to Taxable Persons under Major Exporter Scheme/Approved 3rd Party Logistics Company Scheme Only/Other Approved Schemes Only |
|||
9 |
Total value of goods imported under MES/ Approved 3PL/ Other Approved Schemes |
Editable field + Purchase NET amount ME-SG |
Net amount |
Did you make the following claims in Box 7? |
|||
10 |
Did you claim for GST you had refunded to tourists? |
Editable field (if Yes) |
|
11 |
Did you make any bad debt relief claims and/or refund claims for reverse charge transactions? |
Editable field (if Yes) |
|
12 |
Did you make any pre-registration claims? |
Editable field (if Yes) |
|
Revenue |
|||
13 |
Revenue for the accounting period |
Editable field but defaults to the amount from Box 4 |
|
14 |
Did you import services and low-value goods subject to GST under reverse charge? |
Editable field + Purchase net amount SRRC-SG |
|
15 |
Did you operate an electronic marketplace to supply remote services (includes digital services and non-digital services) subject to GST on behalf of third-party suppliers? |
Editable field + Sales net amount SROVR-RS-SG |
|
16 |
Did you operate as a redeliverer, or an electronic marketplace to supply imported low-value goods subject to GST on behalf of third-party suppliers? |
Editable field + Sales net amount SROVR-LVG-SG |
|
17 |
Did you make your own supply of imported low-value goods that is subject to GST? |
Editable field + Sales net amount SRLVG-SG |
|
Import GST Deferment Scheme |
|||
18 |
Net GST per box 8 above |
Defaults to the amount from Box 8 |
|
19 |
Add: Deferred import of GST payable |
Editable field |
|
20 |
Equals: Total tax to be paid to IRAS |
Box 16 + 17 |
|
21 |
Total value of goods imported under this scheme |
Editable field |
-
Position your mouse pointer over the callout icon
of box 19 to see the amount of GST on Imports. This amount represents the total GST of transactions with the IM tax code.
-
Position your mouse pointer over the callout icon
of box 21 to see the Total value of goods imported. This value represents the net amount of transactions with the IM tax code.
Related Topics
- VAT and GST Reporting Overview
- International Tax Reports
- Generating VAT/GST Reports
- International Tax Reports Best Practices
- Additional Setup Requirements for Singapore
- Singapore Tax Setup
- Singapore Tax Codes
- Setting Tax Preferences
- Setting Tax Rounding Levels, Methods, and Precision Settings
- Accounting for Goods and Services Tax - Singapore
- Singapore GST Report