Goods and Services Tax Return 

Use

In Singapore, businesses are required to submit a goods and services tax return (GST F5 form) to the tax authorities every quarter. This is a preprinted form given by government with predefined data, including the name and address of the company and the GST registration number. The following data needs to be filled out before submitting it:

·        Total accounts receivable

·        Total accounts payable

·        Total input taxes

·        Total output taxes

·        Goods and service tax to be paid or refunded

You can print out the tax return using SAPscript form F_RFUVSG_01.

Prerequisites

Before you can prepare a tax return, you must make the following Customizing settings. Note that the system makes these settings automatically when you create a company code using the country template for Singapore:

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       1.      Create tax codes for full-rate, zero-rated, and tax-exempt sales and purchases, in Customizing for Financial Accounting (FI), under Financial Accounting Global Settings ® Tax on Sales/Purchases ® Calculation ® Define Tax Codes for Sales and Purchases.

The country template for Singapore comes with sample tax codes, which you can copy and adjust as required.

       2.      Define tax grouping version SG01 and assign it to form F_RFUVSG_01 in Customizing for FI, under General Ledger Accounting ® Business Transactions ® Closing ® Reporting ® Sales/Purchases Tax Returns ® Define Tax on Sales/Purchases Groups.

       3.      Assign tax grouping version SG01 to company code SG01 in Customizing for FI, under General Ledger Accounting ® Business Transactions ® Closing ® Reporting ® Sales/Purchases Tax Returns ® Assign Company Codes to Tax on Sales/Purchases.

       4.      Define the tax base amount grouping, which position the accounts receivable and accounts payable fields in F5 form in Customizing for FI, under General Ledger Accounting ® Business Transactions ® Closing ® Reporting ® Sales/Purchases Tax Returns ® Group Tax Base Balances.

       5.      Define tax balances grouping, which position the following fields in the F5 form: total input taxes, total output taxes, GST to be claimed or refund from the government.

Activities

To generate the form, proceed as follows:

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       1.      Run the Advance Return for Tax on Sales and Purchases report.

      2.      Run print program RFUVDE00.