This article explains the functionality for generating Singapore GST-05 reports in Microsoft Dynamics 365 for Finance and Operations, Enterprise edition. The GST-05 report is used to file a goods and services tax (GST) return.
Singapore companies must file a goods and services tax (GST) return (GST-05) on a regular basis. The GST-05 report includes breakdown details such as standard-rated, zero-rated, and exempt purchases and sales in a regulated format. To accommodate the requirements, you must complete the following two operations while you complete the tax settlement process:
- Categorize your tax codes into three categories by selecting proper value for the VAT type field on the Sales tax codes page:
- On the sales tax authority page, specify the dedicated Singapore report layout reporting format.
When you settle and post sales tax to process a tax settlement, the GST-05 report will be generated and printed.