A foreign-currency GST invoice needs a document check before the company claims input tax. Review the supplier’s registration, invoice particulars and Singapore-dollar figures required by IRAS. Paying the foreign-currency amount shown on the invoice does not prove that the document supports the proposed GST entry.
Identify the invoice and the claimant
Confirm the supplier, invoice customer, date and currency. Check that the document relates to the company and the actual supply. An overseas-currency invoice is not automatically an overseas supply; the currency alone does not determine whether Singapore GST should be charged.
Keep the original document and any supplier correspondence. Do not insert a GST number or Singapore-dollar amount into the supplier’s PDF yourself.
Check the required local-currency information
IRAS identifies missing Singapore-dollar equivalent amounts on foreign-currency invoices as an example of an invalid tax invoice. Ask the supplier for an appropriate valid document where required information is absent. The accountant should check all input-tax conditions rather than assuming a corrected currency field resolves every issue.
Example: USD price with no SGD GST information
A local supplier issues an invoice in US dollars and charges Singapore GST, but the supporting local-currency information is missing. Request a corrected document and give the accountant the original and replacement. Do not estimate a claim from the amount debited by the bank and treat that as a substitute tax invoice.
Keep settlement differences separate
The company’s bank may use a conversion rate or charge fees when payment is made. Retain that evidence for the payment reconciliation. A difference between the bank debit and the invoice’s supporting figures may require accounting review; it does not justify silently changing the supplier’s document.
Close the evidence trail
Match the valid invoice, accounting entry and payment record. Identify which version supports the input-tax review and retain the correction history. This checklist helps collect evidence. It does not guarantee a claim, which depends on the full conditions and the company’s circumstances.
Related practical guidance
For the surrounding records and responsibilities, see bookkeeping basics, company records to keep, bookkeeping and accounting.
Official guidance: IRAS official guidance.
Help with your company records
For accounting, bookkeeping and related compliance support, contact Raffles Corporate Services at [email protected] or WhatsApp +65 8501 7133. Tell us which records or process need attention so we can discuss the relevant next steps.
Leave A Comment