Programme Objective

To level the GST playing field for all services consumed in Singapore, the Minister for Finance announced in Budget 2018 that a reverse charge regime will be implemented from 1 Jan 2020 to tax imported services.

On 22 August 2019, the IRAS released their latest e-Tax Guide providing some much-needed clarity to the implications and interpretation of the proposed rules.

This workshop aims to provide participants with an understanding of the following: -

• A recap of the general partial exemption rules in Singapore, which will provide the building blocks for a sound understanding of the Reverse Charge and its implications
• Applicability and corresponding implications of the Reverse Charge including the relevant compliance and reporting obligations

Programme Outline

• Partial exemption (the building block for understanding the GST reverse charge):
  • what is partial exemption
  • de minimis test
  • applicability and impact of regulation 33, 34 and 35
  • apportionment, calculation and longer periods
• GST Reverse Charge:
  • who will be affected by the reverse charge and its implications
  • preparing for the reverse charge
  • the value and calculation of the reverse charge
  • when to apply the reverse charge
  • transitional provisions and rules 

Training Methodology

Lecture style, with case studies and examples

Closing Date for Registration

1 week before programme or until full enrolment.
 

Intended For

• Finance and tax professionals who are involved in GST compliance work;
• Business owners and senior management who like to understand and assess the impact of new GST rule on their businesses or
• Students looking to increase and expand their GST knowledge.

Programme Facilitator(s)