Sales & Service Tax (SST) Updates And Its Current Implementatio

- HRDF CLAIMABLE ONLINE COURSE & LIVE COACHING -
(A) INTRODUCTION
The Government in its Budget for 2019 has announced changes to the Sales and Service Tax (SST) that will take effect w.e.f. 1/1/2019 and customs has also issued notes that new services will be taking effect from 1/3/19 Requirements like Recipient Self Accounting for imported services for businesses calls for all businesses to be fully aware of as it also affects non SST registered person.
Other things that happen in the Service Tax mechanism are like (1) exemptions for certain businesses to avoid double taxation effects, (2) Introduction of 4 new services, (3) Clarification of Management Services that are still to take effect from 1/9/18 and (4) various amendments including the SST return forms and invoice contents.
On the Sales Tax front, there is also the bringing back of the Credit System (formally under CJ(P)3 in the old Sales Tax Act) and the introduction of revised procedures in the application of Schedule C item 3’s exemption application procedures.
(B) COURSE OBJECTIVES
• Learn the know-how to do SST implementation according to Legislations and Customs Updates
• Understand the overall SST concept, scope and its implementation mechanism
• Understand the various SST Exemptions / Benefits facilities availability.
• Familiar the mechanism of Anti-Profiteering Legislations
• Awareness of the continuous requirements to account for the GST output tax
(C) WHO SHOULD ATTEND
• Business Owners and Company Directors
• CFOs, Financial Controllers and Finance Managers
• Accountants, Accounts Executives, Accounts Assistants
• Business Advisors, Auditors and Internal Audit Staff
• Freelance Accounting Professionals
• Procurement/Purchasing and Logistics Managers
• Other functional staff engaged in SST matters
(D) FEE
Fee - RM150
(HRDF Claimable)
(E) COURSE OUTLINE
1. UPDATES FOR SST
2. FUNDAMENTAL AND SCOPE OF SST
3. SST REGISTRATION
i. General Threshold and its determination
ii. Mandatory and Voluntarily registration
iii. Group, Branch and Partnership registration.
iv. Timing of Registrations and its effective date.
v. Single Taxable person concept
vi. Transfer of Going Concerns under Sales Tax
vii. Registration Cancellation
viii. Responsibilities of a Registered Person.
4. SALES TAX
i. Person affected by Sales Tax – Importers, Exporters and Manufacturers.
ii. 3 types of taxable areas and its valuation for tax purpose for 3rd party and inter-company.
iii. Definition of Manufacturing
iv. Determining the Rate of Tax.
v. Types of exemptions under the exemption orders:
a. Goods exempted from charging sales tax b. Persons exempted from paying sales tax.
i. Schedule C – Registered Manufacturers and person acting on behalf of manufacturers
ii. Schedule B – Non- Register Manufacturer on their production of specific sales tax exempted goods.
iii. Schedule A – Other categories of person,
c. 20 business activities exempted from sales tax registration.
vi. Sales Tax Credit Systems.
vii. Treatment for import and goods movement to and
from:
a. Designated Areas
b. Special Areas
viii. Sales Tax drawback facilities.
5. SERVICE TAX
i. Service Provider and its categories of Taxable services ii. Potentially double taxation areas AND its elimination availabilities
iii. Treatment of imported services requirement by all
businesses including Non-SST register company.
iv. Inter-Company Professional Services and definition of group companies
v. Treatment for services supplies within, to and from:
a. Designated Areas b. Special Areas
6. ACCOUNTING
i. Invoice, Debit Note and Credit Note:
• Standard prescribed particulars requirement. • Prescribed particulars requirements for service
tax exemption kind of sales.
ii. Standard and Specific Taxable Period
iii. Filing of Returns & Payment of Tax
iv. Transaction classification code in supporting of your
returns.
v. Bad Debt Relief.
vi. Offences, Compound and Penalties
7. CONTINUOUS ACCOUNT AND PAYMENT OF GST OUTPUT TAX REQUIREMENTS AND ITS FINAL AUDIT AWARENESS.
(F) SPEAKER PROFILE
TAN KOK TEE
HRDF Approved Trainer
Kok Tee has over 40 years of experience in financial, strategic and general management. He has held a variety of leadership and senior management roles in various organizations, the last being Group Chief Executive Officer. More than half of this time are spend in the Manufacturing, Marketing & Distribution and Services organization, including those with the then Inchcape Timuran Berhad, Metroplex Berhad, Perdana Industries Berhad.
He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants, Aust.; Certified Commercial & Industrial Accountant, (M); Member of the Chartered Tax Institute of Malaysia and Member of the Malaysia Associations of Company Secretaries.
He is also a Certified Trainer with PMSB’s Train The Trainer Certificate since 2009, a GST Agent registered with MOF, RMCD MyGCAP certificate holder, and a life member with the Malaysian Institute of Directors.
Kok Tee has also been involved in training and facilitation since beginning 2009. To-date he had conducted about 350 training workshops, of which about 300 are for GST and SST related for both in-house as well as public, including for Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, CPA (Aust.), MAICSA, Selangor state Human Resource Development Centre, Negeri Sembilan state Skills Development Centre, NGOs, political party as well as for various other training providers.
(G) REGISTRATION & ENQUIRIES
Website: www.eCOURSE2u.com
Email: query@eCOURSE2u.com
Contact
Han (019 - 323 0507)
Logesh (012 - 503 0346)
Siti (012 - 383 8603)
Teo (011 - 3178 9203)
Phang (03 - 8082 3357)