Event Date: 22 – 23 November 2012
Event Time: 9am – 5pm
By Kevin Lee, Associate Trainer
Fees: S$650.00 (GST will not be applicable)
GST is a self-assessed tax. IRAS believes that taxpayers are generally compliant and will comply voluntarily if they know how to. As part of IRAS efforts to promote voluntary compliance, IRAS conducts on-going campaigns to educate taxpayers and help them comply with their GST obligations. In addition, they identify key areas of compliance risks among taxpayers and adopt a risk-based approach to tailor specific compliance programs for the higher risk industries.
HRmatters21 presents a two-day workshop that focuses more on the hands-on application of GST. Practical advices on key GST issues and pitfalls will be presented together with planning tools that empower you to apply what you have learnt quickly.
Advanced GST – Rules & Applications, Reimbursement, Non-Business Receipts is a comprehensive step-by-step guide; checklists, decision-trees and flow charts, and planning forms help you think through real life GST issues faced by you. We will work through cases studies and get real-world guidance in this seminar. Complex issues will be explain in plain English and divided into small and simplify scenarios to aid learning and sharing so you can link it to your own work and real life issues when back in your organization. This interactive workshop will also cover essential issues and challenges faced by businesses to help you better manage GST risks. Avoid costly penalties. Get your GST returns right.
Course Outline
Supply, Output Tax and Value of Supply - Definition and Scope of Supplies (including Taxable Supplies; Exempt Supplies; No Supply; Out-of-scope Supplies; Supplies Not for Consideration; Single vs. Multiple Supplies) - Specific Issues covered in Second and Third Schedules of the GST Act, Partial Exemption rules and Input Tax Apportionment
– Definition and Scope of Input Tax
– Rationale for GST and the Mechanism Of GST
– Various Milestones In GST Administration in Singapore Scope of Tax, Supplies, Place of Supply, Taxable Person and Imports
– Supply and Consideration
– Supply of Goods and Services
– The Rules Governing Partial Exemption
– Reimbursement v disbursement
– Payments on Behalf of Related Companies: Reimbursement or Disbursement
– Recovery of expenses: reimbursement or disbursement?
– Services or recovery of expenses? What are those differences?
– Non-business receipts, donation, gifts, grants, donations, sponsorships etc
– Donations with Certain Benefits, concessionary treatment
– GST-ASK and VDP schemes
Workshop Leader
Kevin Lee formed his professional boutique consultancy and advisory firm specializing in corporate structuring and restructuring, enterprise tax risk management and corporate advisory services under the brand name “RYSAAC (睿鉴 隴西)” in early 2005. Since then, RYSAAC has gone strength-to-strength, collaboration strategically with several professional firms, including audit firms, management consultancy & corporate advisory companies and an internationally well-known publication. His clients are those of mainly individual and corporate clients who are seeking independent professional opinions and tax advisory services. Kevin is the full member of the Association of Chartered Certified Accountants (ACCA), Institute of Certified Public Accountants of Singapore (ICPAS), Singapore Institute of Accredited Tax Professionals (SIATP), Singapore Institute of Directors (SID) and fellow member of Malaysian Institute of Management (MIM). He graduated from the London School of Economics and Political Science (LSE), University of London with BSc (Hons) in Economics and Management and an executive diploma in directorship from Singapore Management University (SMU).
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