The format of this course is a Live Webinar. A detailed set of instructions on the Live Webinar will be sent to you closer to date.

Programme Objective

GST-registered businesses can claim GST on their imports and expenses incurred for business purposes. However, there are certain expenses that are not claimable. Businesses who make both taxable and exempt supplies may not be able to claim the full amount of allowable input tax. Wrongful claims are common errors noted during the IRAS’ audits. Penalties could be imposed for these errors.

This workshop aims to provide participants with a better understanding of the input tax recovery rules.

Programme Outline

• Input Tax Recovery Rules
  • Qualifying conditions
  • Disallowed / blocked expenses
  • Time of claiming
• Supporting Documents
  • Tax Invoice
  • Customer Accounting Tax Invoice
  • Simplified invoice
  • Import Permit
• Ascertaining the amount of GST claimable
  • Impact of partial exemption
  • De-minimis rule
  • Attribution / Apportionment
• Specific Expenses
  • Gifts
  • Fringe Expenses
  • Business Expenses

Pre-requisites

Please take note of the following admission requirements:

• Trainings will be conducted on Zoom platform, thus video camera and microphone are compulsory
• Mandatory for video camera to be turned on throughout the course
• Display your official name (as per NRIC) in Zoom, to facilitate attendance taking

Training Methodology

Lecture style, with Case Studies and Examples

Closing Date for Registration

1 week before programme or until full enrolment

Intended For

An Intermediate level programme for Accounting and Tax Professionals who are involved in the GST compliance process.

Programme Facilitator(s)