Programme Objective

GST has already been implemented for more than 20 years now, and yet many GST traders are still making many mistakes. This workshop aims to provide participants with the basic knowledge on GST concepts as well as the rules and regulations in Singapore. It will also help them avoid potential pitfalls and appreciate the potential GST issues that will accompany almost every business transaction. The penalties for not getting GST right can be costly to businesses and hence should not be ignored.

Programme Outline

• Overview of GST System and How It Works
• Key Concepts of GST including Types, Place, Time & Value of Supplies
• Transfer of Going Concern
• Claiming Input Tax Credits, including pre-registration input tax and bad debts relief
• Fringe Benefits
• Importation of Goods – Major Exporter Scheme and Import GST Deferment Scheme
• Exports and International Services
• Accounting for GST
• Interaction between income tax and GST
• Registration & Record Keeping
• Tax Receipts and Invoices
• Completing GST Forms and Returns
• Common GST errors made by business
• Advance Ruling System
• Offences and Penalties
• GST Assisted Self-Help Kit (ASK)
• GST Assisted Compliance Assurance Program (ACAP)
• Voluntary Disclosure Program (VDP)
• GST on Imported Services – Reverse Charge and Overseas Vendor Registration
• Recent GST Changes

Pre-requisites

Please take note of the following admission requirements:

• Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
• Mandatory for video camera to be turned on throughout the course
• Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology

Lecture style, with Case Studies and Examples

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

Junior tax professionals and accountants who are involved in GST compliance work; and Non-tax professionals who want to achieve a higher appreciation of corporate tax laws, regulations and practice.