In Sage Intacct, companies that are registered for Goods and Services Tax (GST) must submit GST returns to the Inland Revenue Authority of Singapore (IRAS). These returns, filed using Forms F5 to F8, allow businesses to report the GST they charge on sales (output tax) and the GST they pay on business purchases (input tax).
Form F5 – The standard GST return, usually filed every quarter.
Form F8 – The final return, filed when a GST registration is cancelled.
Most businesses file these returns through myTax Portal, and strict deadlines apply. Timely and accurate filing helps businesses stay compliant and avoid late filing penalties.
New Stuff: – GST IRAS Audit File Generator in Singapore Localization Suite
In this blog, we are going to discuss working of GST F5-F8 Filing. The GST F5 return is the standard form that GST-registered businesses in Singapore must file, usually on a quarterly basis. In this report, a business declares: Output tax – GST collected from customers on sales. Input tax – GST paid on eligible business purchases and expenses. The difference between output tax and input tax determines whether the business must pay GST to IRAS (if output tax > input tax) or will receive a GST refund (if input tax > output tax).
Please refer below screenshot of the user interfaces for the “GST F5-F8 Filing”.
The GST F8 return is filed when a business cancels its GST registration in Singapore. This final report ensures that all GST matters are settled before deregistration. In the F8 return, a business must:
- Declare all outstanding sales and purchases up to the cancellation date.
- Account for GST on business assets (like stock or fixed assets) that are still held at the point of deregistration, if input tax was previously claimed on them.
- Calculate the final net GST payable or refundable.
Submission is done online via myTax Portal, and once processed, the business’s GST obligations with IRAS are considered closed.
Together, the GST F5 and F8 reports play a vital role in Singapore’s GST compliance framework. While the F5 return supports ongoing tax reporting during business operations, the F8 return ensures a proper closure of GST obligations when registration ends. Filing them accurately and on time helps businesses remain compliant, avoid penalties, and maintain good standing with IRAS.
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