Indirect Tax - Proposed GST changes and business impacts in Singapore - Workshop 2019

Overview

The Singapore Goods & Services Tax (GST) affects almost all business transactions but errors are still commonly made in the treatment and reporting of the GST. It is important for GST-registered businesses to have an in-depth understanding of the intricacies of the prevailing GST law and regulation. This workshop builds on the fundamentals of our GST law and regulation with a view to addressing specific high-risk areas.

In addition, with the introduction of the Reverse Charge (RC) mechanism and Overseas Vendor Registration (OVR) on 1 January 2020, certain imported services (whether B2B or B2C) would be subject to Singapore GST. It is important for businesses in Singapore to understand how these proposed rules will affect their GST compliance and reporting obligations.

Key Topics Covered:

• The scope of the imported services that are subject to reverse charge and OVR for Singapore GST purposes
• How these proposed tax changes affect your GST compliance and GST reporting obligations
• What are the actionable steps you should consider in preparing for the implementation of these tax changes
• Overview of the Assisted Self-Help Kit (ASK) as a self-assessment package designed to facilitate the voluntary compliance for your business
• What are the best practices in GST compliance developed through ASK Review
• Review of common GST errors or mistakes made by GST-registered and non-GST registered businesses in Singapore

This workshop is part of the Digital in Finance promotion and is eligible for funding support of more than 40%* off the workshop fees.

Eligibility

• Be a Singapore Citizens and Permanent Resident
• Achieve at least 100% attendance at the workshop
• Not receive any other funding from government sources (with exception of UTAP and PIC funding)

For full terms and conditions, click here

Enter code DIGITAL19 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.)

An Accredited Tax Advisor, Jack Wong has over 21 years of international tax experience, providing MNC and high net-worth individuals with his tax solutions. He is also experienced in resolving tax disputes with the tax authorities and negotiating for tax incentives with the Singapore Government agencies on behalf of his clients. Jack wins praise for his effective balance of technical skill and client services. In 2010, Jack received the honour to be named one of the top Notable Tax Practitioners in Singapore by Chambers & Partners, Asia.

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 and OVR rules affect your GST compliance and GST reporting obligations
• Evaluate the action steps for the official implementation of the new RC and OVR 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