On 24 January 2023, the International Tax Reports SuiteApp v.3.125.0 updated the Create Tax Code SS (customdeploy_create_taxcodes_ss) script to add the Exclude from VAT Reports and Purchaser Issued Invoice properties on the following Singapore tax codes

In this version of the SuiteApp, newly created companies and subsidiaries with Singapore nexus automatically get the added properties. For existing accounts, ensure to add the new properties on your existing tax codes by completing the procedure in the required actions.

Required Actions:

For accounts with existing Singapore nexus, make sure to do the following after the International Tax Reports SuiteApp in your account is updated to v3.125.0:

1. Create the new tax codes with 8% and 9% rates. For more details, see Suite Answers ID: 1012062.
2. Check the Exclude from VAT Reports box on the following tax records: NR-SG, EP-SG, BL8-SG, and BL9-SG.
3. Check the Purchaser Issued Invoice box on the following tax code records: SRCA8-C-SG and SRCA9-SG.

For information on how to edit tax code records, see SuiteAnswer ID: 21826.

The updates to the Tax Code Table for Singapore is targeted to be available in the help topic on SuiteAnswers ID: 15252.

Additional Consideration

• If you have set up a default Tax Code for Sales and Purchase transactions, please look at the Tax Schedule (associated to items) to ensure that the default tax codes are updated for 2024. This update must be completed by  the close of business on the last day of 2023. If not, users will encounter an error if they forget to use the valid GST code for any new purchase or sales transaction dated in 2024.
• You should consider creating a saved search to pull all sales and purchase transactions for the first quarter to validate that everything is in order given the dependencies.
• Any customisations relating to the SG tax codes should be reviewed.

If you have any issues, please reach out to our support team directly or to your account manager (Mark Wilfred).