MES Manager

Save time and money, and avoid compliance issues.

If you are using the Major Exporter Scheme (MES) available from the Inland Revenue Authority of Singapore (IRAS) then you need the MES Manager from TNETS

The MES Manager takes the guesswork out of MES compliance, dramatically reduces the time required to produce MES reports for GST filing, and provides an early warning of compliance issues.

With the MES Manager you can perform the following functions:

  • Reconcile MES Imports and Exports down to the line item level as required by IRAS
  • Run periodic GST reports showing accurate values of imports and exports and the amount of import GST suspended
  • Provide stock lists of goods imported under MES, together with their respective import date, value, depletion logs, and on-hand quantities
MES Guidelines

The Comptroller of IRAS’s requirements on internal controls, accounting and compliance records are set out as follows:

Good internal controls and proper accounting records:

There must be proper and documented procedures on the identification and capturing of accounting information from your inventory and financial records into your GST accounting / reporting system;

There must be sufficient original documents and proper records of the value of imports (including goods removed from ZG warehouse), exports and total supplies as follows:

Inward handling/ Receipt of goods

  • Goods Received Notes (GRN) – to document the date / quantity / description of goods received
  • Duly acknowledged Delivery Orders (DOs)–to support the GRN
  • Copies of import/ ME/ MC permits, transhipment permits etc
  • Copies of shipping documents such as air waybill or bill of lading
  • Copies of commercial invoices accompanying the goods, if available
  • Copies of insurance documents accompanying the goods, if available
  • Copies of correspondences from your overseas principals
  • Any other similar documents to document the date / movement / quantity / description of the goods received into its warehouse
  • The identity of the overseas principal(s)/ supplier(s) as well as the value and description of the goods must be readily identifiable/ verifiable.

Storage/ Custody of goods

  • The relevant warehouse records/ reports showing clearly the person(s) handing over and person(s) receiving the goods at each stage of their storage into the warehouse
  • The warehouse storage records/ reports showing the warehouse location where the goods are stored

Outward handling/ Removal of goods

  • Purchase Orders (POs) issued by your customer(s)
  • Delivery Orders (DOs) issued by you
  • Copies of export permits, transhipment permits etc
  • Copies of shipping documents such as air waybill or bill of lading
  • Copies of commercial invoices accompanying the goods, if available
  • Copies of insurance documents accompanying the goods, if available
  • Written instructions from your customer(s) to deliver the goods locally or to export the goods
  • Any other similar documents to document the date/ movement/quantity/ description of the goods removed from your warehouse
  • The identity of the overseas or local customer(s) as well as the value and description of the goods must be readily identifiable/ verifiable.

Stock-taking/ Inventory audit of goods

  • You must maintain sufficient evidence to indicate that a full and comprehensive internal and/ or external stock-take/ inventory audit has been performed.

Discrepancy reporting of goods
You must maintain reconciliation reports pertaining to discrepancies of the goods at the point of their:

  • Receipt into the warehouse (if any)
  • Removal from the warehouse (if any)

And after a stock-take/ inventory audit is conducted

Invoicing for the goods supplied

  • If you invoice your customer for the goods, you must maintain the following documents as evidence of the supply of the goods:
  • Tax invoices issued for all local supplies of goods
  • Invoices issued for all sales which are exported (i.e. the supporting export documents must be maintained as proof of exports of goods)
  • Evidence of payment received from the customer (if any)

You must produce all such records upon request by IRAS.