GST accounting for property developers and construction industry - Sibu (21-Mar-2016)

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This workshop covers many aspects of GST includes scope of GST and its treatment; input tax claim and issues; GST registration; Accounting for GST and its subsequent implementation.


GST treatments
• Scope of charges
• Type of supply includes standard supply and exempt supply
• Place of supply, time of supply and value of supply
• GST treatment on promotional packages; defects liabilities and liquidated damages; retention sum; and service charge
• Claiming input tax credits
• Case study
Accounting for GST
• Tax codes and tax sets
• GST treatment and double entries
• Chart of accounts
• Tax invoice
• Credit and debit note
• Bad debt relief
• Gift rule
• Record Keeping
• Accounting basis
• Taxable Period
Latest development issues

Learning objectives

Goods and Services Tax ( GST) is an indirect tax that may affect all inputs and outputs of property development and construction industry. It is a consumption tax charged on Goods and Services made by a taxable person in the course of business in Malaysia or charge on imported goods and foreign consultant’s services. GST will be implemented on 1 April 2015 as announced by our Prime Minister during the budget 2014. The GST Act 2014 has been gazetted on 19 June 2014.

This event covers many aspects of GST includes scope of GST and its treatment; input tax claim and issues; GST registration; Accounting for GST and its subsequent implementation.

Participants will be able to:
• Understanding the scoop of tax
• How to claim input tax correctly
• Identify GST treatments and issues
• Identify the liability to register and responsibility of taxable person
• Prepare GST implementation
• Understanding tax codes and accounting double entries

Dr Tan Thai Soon
Dr Tan is a management and tax consultant. He obtained his Doctor of Business Administration from University of Newcastle, Australia. He holds a Master of Science in Management Accounting and Planning from University Utara Malaysia and Bachelor degree in Economic Studies from University of Newcastle, UK.

He is a Fellow member of the Chartered Tax Institute of Malaysia (FCTIM), a Fellow member of Malaysian Institute of Management (FMIM) and a member of Institute of Public Accountants (MIPA). He is an Approved Tax and GST Agent, a Certified Financial Planner (CFP), a Registered Financial Planner (RFP) and a Registered Trust and Estate Practitioner (TEP).

He has obtained substantial experience in management consultancy assignments while attached with an international consulting firm which include carried out feasibility study as special consultants, monitoring of housing projects, corporate recovery and receivership assignments. He has more than 21 years experience in management consulting and taxation matters.

He has made contributions on articles to international and local journals and national newspaper. He authors’ books in taxation and knowledge management include Malaysian Property Taxation; Malaysian Personal Taxation; Efficient & Effective Tax Planning for Employers & Individuals, and Strategic Knowledge Management in Malaysian Enterprises.


Accountants, company secretaries, tax agents, gist agents, property investors, property agents, property and land owners, housing developers and anyone that is interested on the topics

1 day