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Basic: Understanding GST concepts & fundamentals

How accurate are your GST returns?

Start date and time

August 15, 2013 9:00 AM

End date and time

August 15, 2013 5:00 PM

Time zone:

(GMT+08:00) Kuala Lumpur, Singapore

Venue

Singapore Marriott Hotel
Singapore

Contact information

Noeline Keiser
Tel : 6530 5575
Fax: 6538 6166
Email: nkeiser@deloitte.com

Registration options

Online

Event registration is closed.

Payment Information

S$300 for clients/alumni of Deloitte

S$360 for non-clients

Crossed cheques are to be made payable to “Deloitte & Touche LLP” and mailed to:
Deloitte & Touche LLP
6 Shenton Way #32-00, Tower Two, Singapore 068809
Attn: Noeline Keiser

Cancellation Information

We regret that fees will not be refunded. Replacement is permissible with substitute attendees.


GST has been in place now for around 17 years now and yet surprisingly, taxpayers registered for GST are making mistakes in its GST treatment of transactions and GST reporting.

As GST is a transactional tax, GST errors are usually recurring in nature. Hence, any GST issues and/ or errors which are left undetected often amount to a large payable sum by the taxpayer, not to mention the possible imposition of penalties and/ or fines.

You should carefully consider your current approach to the preparation and submission of your GST returns. Particularly, with regard to how are the GST treatments of transactions determined and how is the information from your systems retrieved and translated to the figures reported on your GST return.

If your staff have been completing GST returns based on a process that was previously set up by multiple predecessors, you may want to assess their actual knowledge in respect of understanding the underlying basis of why certain transactions have been treated a particular manner for GST purposes.

It would be beneficial to send your staff involved in the GST preparation process for this course to act as a “refresher” course and also to provide you with new developments – as you are aware, there are constant changes every year to the GST legislation and hence, it is crucial to ensure that your staff are up to date with all updates where applicable to your business.

This course will provide you with the fundamental knowledge required to effectively administer your businesses GST and at a minimum, provide you with enough knowledge such that you are able to identify and raise queries on potential problematic transactions that you may come across.

Who should attend
Our GST workshops are suitable for financial managers, accountants and accounting staff involved in the preparation and/ or review of the GST returns prior to submission to the IRAS. The IRAS has continued to update its programme for GST compliance with several newly launched programmes such as the GST Assisted Self-Help Kit, the Assisted Compliance Assurance Programme as well as e-tax guides and best practices.

To get the most out of our GST workshops, we would recommend that participants attend our GST Fundamentals workshop before attending our GST Advanced workshop.

Topics
Topics covered will include:

  • Basic principles of GST
  • Type, place, time & value of supply
  • International services
  • Export of goods & required supporting export documents
  • Import of goods & valuation issues
  • Common problem areas:
    • Fringe benefits: “blocked” input tax & “deemed” output tax
    • Recovery of expenses: reimbursement vs. disbursements
    • Accounting for GST on sponsorship activities
    • GST issues on secondment of staff
    • Practical examples of the above topics and relevant case studies

For more information, please see our brochure.

 

Event registration is closed.

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