IRAS has updated its guidance on Changing GST accounting periods, including a revised structure for clarity, an expanded explanation of Special Accounting Periods, and updated instructions on how businesses can request changes via the myTax Portal, subject to approval and supporting documentation requirements.
The Inland Revenue Authority of Singapore has published updated guidance on Changing GST accounting periods. The update includes an overall restructuring to improve readability, including a clearer example on Special Accounting Periods, along with a new section on how to request changes to GST accounting periods.
To change GST accounting periods in Singapore, a written request must be submitted to IRAS via the myTax Portal. Changes are not applied automatically even where the financial year-end is amended. Approval is required from IRAS, and the request must be consistent with business requirements, the financial year-end, and the intended filing frequency.
Accounting period options
Standard Accounting Periods: These are determined based on filing frequency and the month in which the financial year ends. For example, where the financial year ends in March, June, September, or December, quarterly periods would typically run as Jan–Mar, Apr–Jun, Jul–Sep, and Oct–Dec.
Special Accounting Periods: These may be applied for where financial periods do not begin on the first day or end on the last day of calendar months (for example, where the financial year ends on 28 December).
How to submit a request
Access myTax Mail: Log in to the myTax Portal, select the “Email Us (myTax Mail)” tab, and choose the category “GST (Filing and Applications)” with the subject “Notify Business Changes”.
Provide required information: The preferred filing frequency or special periods must be indicated, along with the business rationale for the change.
Supporting documents (for Special Periods): Where special accounting periods are requested, supporting documentation for one full year is required, such as:
- Past financial statements showing reporting periods
- A fiscal calendar (a 12-month or 52/53-week schedule used for financial reporting and taxes)
Important timeline
The request must be submitted at least 30 days before the start of the first accounting period intended for change. Where the request is not submitted within the required timeframe, GST returns must continue to be filed based on existing standard accounting periods until approval is granted.
