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  1. Singapore Tax - GST F5 for foreign currency ledger

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    6 comments  ·  For accountants & bookkeepers » Xero Tax  ·  Admin →
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    submitted  ·  AdminHannah G (Admin, Xero) responded

    Hi everyone, we’d like to confirm that GST F5 for foreign currency ledger is not something we have plans to develop at this time. We’re still interested to get a clearer understanding of users that’d like to see this developed for Singapore tax, and will continue to track this through the conversation here.

    In the meantime, for those who aren’t already aware, in a Singapore organisation users can access the GST Audit report which shows the base currency, FX value and Singapore dollar value information you’ll need to meet IRAS requirements.

    As the GST Audit report doesn’t show the gains and losses needed for IRAS reporting, you can use the Foreign Currency Gains and Losses report to see this information.

    If there’s any change we will let you know on the thread here 😊

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    Nurashikin Abdulla commented  · 

    We have a few Singapore entities on Xero. They are all registered under one Group GST registration. It would be good to have a function to consolidate GST reporting under the same GST registration number as they are related subsidiaries.

    Thanks.

    Nurashikin Abdulla supported this idea  ·