Goods and Services Tax (GST) - Assisted Compliance AssuranceProgramme (ACAP)
For ACAP review, IRAS usually conducts suitability interviews of ACAP reviewers before giving their go-ahead for taxpayers to select their ACAP reviewers. In our inaugural ACAP engagement in 2017, our firm, with two partners who are ATA (GST), was similarly interviewed by IRAS and was deemed suitable to undertake an ACAP review engagement on behalf of our client. We successfully completed our initial ACAP engagement, and our report resulted in IRAS awarding ACAP Premium status to our client. The ACAP Premium status, the client enjoys the benefits under ACAP for 5 years (instead of 3 years). We have since submitted/completed 4 other ACAP engagements, including the first post-ACAP review for client, without any significant findings or penalties imposed by IRAS.