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  1. Singapore Tax - GST F5 for foreign currency ledger

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    7 comments  ·  Practice tools  ·  Admin →
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    Gaining Support  ·  AdminKelly Munro (Community Manager, Xero) responded

    Thanks for sharing and supporting in this idea, everyone. Right now, developing GST F5 for foreign currency in Singapore isn't in our roadmap.

    Currently, Singapore organisations can access the GST Audit report that shows the base currency, FX value and Singapore dollar value information you’ll need to meet IRAS requirements.

    You can also use the Foreign Currency Gains and Losses report to show the gains and losses needed for IRAS reporting.

    We'll continue to get a sense of the interest in this idea, and if there are any changes will share news with you here.

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    Alexey Dmitriev commented  · 

    Yes, this is vital. To Explain for ease of understanding and encourage quicker implementation:
    Singapore government requires that company reports in a currency that it most transacts in. In our case, our chart of accounts and reporting is in USD and the GST F5 Return (that we're mostly switched to Xero for) option is NOT available in the menu.
    Could you please make it be possible to have the GST F5 Return option for an organisation in Singapore who's accounts are kept in currency other than SGD?
    Thank you

    Alexey Dmitriev supported this idea  ·