Annual tax updates - special topics in GST - Workshop SG 2018

Identifier: 83376918

Duration: 1 day

Language: English

Cost:

Action

Overview

The Goods and Services Tax (GST) in Singapore affects almost all business transactions but errors are still commonly made in the treatment and reporting of GST. Therefore it is important to have an in-depth understanding of the intricacies of GST. This workshop builds on the fundamentals of GST to address specific areas of GST.

The Assisted Self-Help Kit (ASK) initiative is a self-assessment package designed to facilitate the voluntary compliance for GST-registered businesses. Learn more about the scope of a ASK review and best practices in GST compliance developed through ASK review.

In addition, with the Reverse Charge regime for Business-to-Business supplies of imported services to be implemented from 1 January 2020, understand the new rules that will affect your GST compliance and reporting obligations to be prepared for the official implementation.

Key Topics Covered for ASK:

  • Introduction to ASK and scope of ASK Review
  • Best practices in GST compliance developed through ASK Review
  • Examination of the various components of a pro-forma “pre-filing” checklist in ASK’s style and its impact on your GST planning
  • Review of common GST errors or mistakes made by GST-registered and non-GST registered businesses in Singapore

Key Topics Covered for Reverse Charge:

  • The scope of the imported services that are subject to reverse charge for Singapore GST purposes?
  • The new Reverse Charge rules affect your GST compliance and GST reporting obligations
  • Preparation for the official implementation of the new Reverse Charge rules from 1 Jan 2020

This workshop is part of the Finance For the Future Program and is eligible for funding support of more than 40%* off the workshop fees. Eligibility conditions apply.

Enter code FUTURE18 at checkout. To apply the promotional code, you must complete separate payment for each workshop.

*Discount based on member price

Trainer Profile:

Jack HM Wong FCPA (Aust.)

With more than 20 years of international tax experience working with both corporate and individuals on various transactions, Jack has assisted over 900 multinationals and high net-worth individuals in a wide range of business and tax issues. From assisting clients in securing favourable tax incentives from various government agencies to resolving tax disputes with the Inland Revenue Authority of Singapore, Jack is best known for his constant focus on clients, coaching and ongoing guidance to achieve optimum results for his clients. A regular speaker at various tax conferences and workshops, Jack is the author of the recently published “Essentials of Expatriate Tax”.

Jack holds an MBA from Nanyang Technological University and an LLM from National University of Singapore, along with the Bachelor of Laws and Bachelor of Commerce from Murdoch University.

Objectives

  • Understand the definition of ASK and the scope of ASK Review
  • Identify the best practices in GST compliance developed through ASK Review
  • Explore the various components of a pro-forma “pre-filing” checklist in ASK’s style and examine its impact on your GST planning
  • Review common GST errors or mistakes made by GST-registered and non-GST registered businesses in Singapore
  • Understand the scope of the imported services that are subject to reverse charge for Singapore GST purposes
  • Understand how the new RC rules affect your GST compliance and GST reporting obligations
  • Evaluate the action steps for the official implementation of the new RC rules from 1 Jan 2020

Audience

This workshop is suitable for:

  • CFOs / Financial Controllers
  • Senior Tax Managers
  • Accountants/ Auditors
  • Finance Professionals who are advising or are responsible in implementing and/or managing GST
  • Tax professionals of any organisation who like to broaden their perspective of the GST issues. Specifically, avoid making GST mistakes and paying un-necessary penalties when errors are discovered through GST audits.

Course Structure

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