For businesses with substantial import and export operations, effective cash flow management is essential. The Major Exporter Scheme (MES) serves as a key facilitation program aimed at easing the GST burden on imports, providing vital support to companies engaged in international trade. 

What is the Major Exporter Scheme (MES)? 

The Major Exporter Scheme is a GST scheme administered by the Inland Revenue Authority of Singapore (IRAS). Under normal circumstances, businesses must pay GST to Singapore Customs at the point of importation and subsequently claim it back in their GST returns. The Major Exporter Scheme (MES) is a GST suspension scheme that allows approved businesses to import goods without paying Goods and Services Tax (GST) at the point of import. This scheme is particularly beneficial for businesses that frequently import and re-export goods, as it minimizes the working capital tied up in GST payments. 

Who Can Apply? 

To be eligible for MES, your business must meet several criteria, primarily focused on your export volume. Key eligibility includes: 

• Your business must be GST-registered. 

• Your zero-rated supplies (exports) must account for more than 50% of your total supplies or exceed S$10 million per year. 

• Your business must be active and financially solvent. 

• You import goods for the purpose of your business. 

• You maintain good internal controls and proper accounting records. 

• Your business must have a good compliance record with both IRAS and Singapore Customs. 

Companies involved in trading, manufacturing, logistics, and supply chain operations are typical candidates for this scheme. 

Requirements: Internal Controls, Accounting and Compliance 

Maintaining MES status requires rigorous adherence to accounting standards and internal oversight. 

• Internal Controls 

• Clear procedures for tracking import and export movements. 

• Segregation of duties to prevent errors or fraud. 

• Proper authorization and documentation workflows. 

• Accounting Records 

• Accurate and timely recording of all import and export transactions. 

• Reconciliation between physical inventory and accounting records. 

• Proper maintenance of supporting documents such as invoices, permits, and shipping documents. 

• GST Reporting 

• Report imports under MES without claiming input tax. (since GST was suspended) 

• Accurately declare standard-rated, zero-rated, and exempt supplies. 

• Ensure consistency between GST returns and underlying accounting records. 

• Compliance Records 

• Retention of GST-related documents for the required statutory period. 

• Ability to substantiate zero-rated supplies and exports. 

• Regular internal reviews to ensure compliance with MES conditions. 

• Self-Assessment 

• Applicants are typically required to perform a self-assessment using the Assisted Self-Help Kit (ASK), which must be certified by an accredited tax practitioner. 

How We Can Support Your Business ?

Navigating the complexities of GST schemes can be daunting. Our team of experts provides end-to-end support to ensure your application is successful and stays compliant: 

• Eligibility assessment and advisory. 

• Preparation and submission of MES applications. 

• Review and strengthening of internal controls. 

• GST compliance and reporting support. 

• Renewal application for MES. 

• Assistance during audits or reviews by authorities. 

We aim to simplify the process and ensure your business remains fully compliant while maximizing the benefits of the scheme. 

About Us 

Catalyst Business Consultants Pte Ltd is an accounting firm offering comprehensive GST filing services and end-to-end support for MES applications. Backed by extensive experience in international trade and GST matters, we provide practical, dependable, and customized advisory solutions. 

Our team brings together technical expertise and a thorough understanding of regulatory frameworks, empowering clients to navigate complex compliance requirements with confidence. We take the complexity out of regulatory obligations — so you can stay focused on expanding your global trade presence.