Programme Objective
This is a refreshed course from TAX274 : GST in the Digital Economy.
Digitalization has changed our way of life. The supplies and demands for goods and services have digitalized into manifolds, especially post COVID-19. GST is no longer a domestic tax, and it has since progressed beyond the boundaries.
To close the tax gap resulting from taxing supplies under conventional business models, the GST rules have been globalized in the digital economy. Further, to level the playing field between domestic businesses and their overseas counterparts, Singapore has likewise adopted new international standards to protect the GST revenues.
A full-day session aims to give an overview of the GST taxing tools and taxing framework in areas specific to the digital economy: reverse charge, overseas vendor registration regime; digital tokens, digital payment tokens, cross-border digital and non-digital transactions (including low-value goods and remote services), through case studies. GST applications on cross-border transactions illustrated via case studies are deployed to explain the specific rules in advertising services, transport and travelling services, arrangement of financial services, insurance services, web-hosting services and international telecommunication and services.
Programme Outline
- GST Challenges faced in a digital economy.
- Definition of goods and services in the digital economy
- The Singapore GST Taxing Model in the digital economy
- Crypto assets and their respective GST treatment
- The taxing tools – Reverse Charge and Overseas Vendor Registration Regime
- Case studies on taxing cross- border transactions in the digital economy
- advertising services;
- transport and travelling services;
- financial services;
- insurance services;
- web-hosting services; and
- international telecommunication services.
On the completion of this course, you will:
- Appreciate the rationale in leveling the playing field
- Understand the GST taxing mechanism in the digital economy
- Grasp the characteristics of the specific products in the digital economy
- Comprehend the respective GST treatment of the specific industries in the digital economy
Training MethodologyLecture style, with Case Studies and Examples
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
CFOs, Directors, CEOs, Partners, Sole proprietors, and senior accounting and tax professionals of any organization have some basic knowledge about GST and like to upgrade their knowledge on the GST applications of some specific products in the digital economy.
Competency Mapping
Others = 7.00 Hours
Schedule & Fees
Date & Time
20 Aug 2024 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
For Members:
$ 394.58
For Non-Members:
$ 470.88
Programme Facilitator(s)
Eng Li Ming
Venue
60 Cecil Street
ISCA House
Singapore 049709
Date & Time
10 Dec 2024 (9:00 AM - 5:00 PM)
Fee (inclusive of GST)
For Members:
$ 473.06
For Non-Members:
$ 564.62
Programme Facilitator(s)
Eng Li Ming
Venue
60 Cecil Street
ISCA House
Singapore 049709
Testimonial
Good for professionals as well as personal knowledge as consumers are always dealing with remote services in digital economy. Dealing with partial input tax recovery for Stat boards etc
Past Participant from TAX274
Very patient and lively lecturer
Past Participant - 24 Apr 2024
Funding
1] NTUC Union Training Assistance Programme (UTAP)
NTUC members enjoy 50% *unfunded course fee support for up to $250 each year when you sign up for courses supported under UTAP. NTUC members aged 40 and above can enjoy higher funding support up to $500 per individual each year, capped at 50% of unfunded course fees, for courses attended between 1 July 2020 to 31 December 2025.
*Unfunded course fee refers to the balance course fee payable after applicable government subsidies. This excludes material fees, registration fees, misc. fees etc.
This course is approved for UTAP support for intakes conducted between 06 November 2023 – 31 March 2025.
As UTAP is given on calendar year basis, and calculated based on year of training taken, it cannot be accumulated.
- Maintained paid-up NTUC membership before course, throughout course duration and at the point of claim and;
- Course by training provider must be supported under UTAP and training must commence within the supported period and;
- Unfunded course fee must not be fully sponsored by company or other types of funding
- Unfunded course fee must be S$20.00 and above, and;
- Member must achieve a minimum of 75% attendance for each application and sat for all prescribed examination(s), if any and;
- UTAP application must be made within 6 months after course ends.
For more information on UTAP Funding and to submit for UTAP claims, please visit https://www.ntuc.org.sg/uportal/programmes/union-training-assistance-programme. Terms and conditions apply.
Programme Facilitator(s)
Mrs Eng Li Ming
Accredited Tax Advisor (GST) of The Singapore Chartered Tax Professionals (SCTP)
Ms. Tan Li Ming (Mrs. Eng) is an Accredited Tax Advisor (GST) of The Singapore Chartered Tax Professionals (SCTP). She has extensive taxation experience in Singapore and foreign tax authorities, particularly in the Goods & Services Tax (GST, also known as VAT in some countries). She was in the pioneer team, which in 1994 implemented the new tax regime, the Goods & Services Tax, for Singapore. After the smooth implementation of GST, Li Ming oversaw the various GST administrations, such as initiating and implementing GST policy changes and resolving complex technical issues in the Inland Revenue Authority of Singapore (IRAS). These are reflected in resolving technical issues, dealing with GST rulings, initiating, and implementing GST policy changes for the various sectors, including the public sector, manufacturing, real estate, telecommunications, logistics, and the financial industries. She spearheaded and implemented two key compliance programmes, to promote voluntary GST compliance - Assisted Self-help Kit (ASK) and Assisted Compliance Assurance Programme (ACAP).
Li Ming now provides GST advisory and consultancy services to foreign tax administrations in their tax reforms, to implement a VAT or develop an IT system to re-engineer their business processes (not limited to VAT/GST). Past clients include Local Tax Offices in China; Ministry of Finance, Brunei; Maldives Inland Revenue Authority (MIRA), Maldives; Royal Malaysian Customs Department, Malaysia; Ministry of Finance, Seychelles; the Oman Customs, Oman; Ministry of Economy, Finance and Planning, Equatorial Guinea; the state government of Karnataka, India; some African countries and Saudi Arabia. She also conducts lectures and customized GST workshops, providing GST Advisory Services and GST Compliance Assurance Reviews for GST-registered businesses. Currently, she is the writer of the Singapore Chapter of “VAT Worldwide,” published by the International Bureau of Fiscal Documentation (IBFD) and member of the Curriculum and Examination Development Committee of Tax Academy, Singapore.
Programme Objective
This is a refreshed course from TAX274 : GST in the Digital Economy.
Digitalization has changed our way of life. The supplies and demands for goods and services have digitalized into manifolds, especially post COVID-19. GST is no longer a domestic tax, and it has since progressed beyond the boundaries.
To close the tax gap resulting from taxing supplies under conventional business models, the GST rules have been globalized in the digital economy. Further, to level the playing field between domestic businesses and their overseas counterparts, Singapore has likewise adopted new international standards to protect the GST revenues.
A full-day session aims to give an overview of the GST taxing tools and taxing framework in areas specific to the digital economy: reverse charge, overseas vendor registration regime; digital tokens, digital payment tokens, cross-border digital and non-digital transactions (including low-value goods and remote services), through case studies. GST applications on cross-border transactions illustrated via case studies are deployed to explain the specific rules in advertising services, transport and travelling services, arrangement of financial services, insurance services, web-hosting services and international telecommunication and services.
Programme Outline
- GST Challenges faced in a digital economy.
- Definition of goods and services in the digital economy
- The Singapore GST Taxing Model in the digital economy
- Crypto assets and their respective GST treatment
- The taxing tools – Reverse Charge and Overseas Vendor Registration Regime
- Case studies on taxing cross- border transactions in the digital economy
- advertising services;
- transport and travelling services;
- financial services;
- insurance services;
- web-hosting services; and
- international telecommunication services.
On the completion of this course, you will:
- Appreciate the rationale in leveling the playing field
- Understand the GST taxing mechanism in the digital economy
- Grasp the characteristics of the specific products in the digital economy
- Comprehend the respective GST treatment of the specific industries in the digital economy
Training MethodologyLecture style, with Case Studies and Examples
Closing Date for Registration
1 week before programme or until full enrolment.
Intended For
CFOs, Directors, CEOs, Partners, Sole proprietors, and senior accounting and tax professionals of any organization have some basic knowledge about GST and like to upgrade their knowledge on the GST applications of some specific products in the digital economy.
Competency Mapping
Others = 7.00 Hours
Programme Facilitator(s)
Mrs Eng Li Ming
Accredited Tax Advisor (GST) of The Singapore Chartered Tax Professionals (SCTP)
Ms. Tan Li Ming (Mrs. Eng) is an Accredited Tax Advisor (GST) of The Singapore Chartered Tax Professionals (SCTP). She has extensive taxation experience in Singapore and foreign tax authorities, particularly in the Goods & Services Tax (GST, also known as VAT in some countries). She was in the pioneer team, which in 1994 implemented the new tax regime, the Goods & Services Tax, for Singapore. After the smooth implementation of GST, Li Ming oversaw the various GST administrations, such as initiating and implementing GST policy changes and resolving complex technical issues in the Inland Revenue Authority of Singapore (IRAS). These are reflected in resolving technical issues, dealing with GST rulings, initiating, and implementing GST policy changes for the various sectors, including the public sector, manufacturing, real estate, telecommunications, logistics, and the financial industries. She spearheaded and implemented two key compliance programmes, to promote voluntary GST compliance - Assisted Self-help Kit (ASK) and Assisted Compliance Assurance Programme (ACAP).
Li Ming now provides GST advisory and consultancy services to foreign tax administrations in their tax reforms, to implement a VAT or develop an IT system to re-engineer their business processes (not limited to VAT/GST). Past clients include Local Tax Offices in China; Ministry of Finance, Brunei; Maldives Inland Revenue Authority (MIRA), Maldives; Royal Malaysian Customs Department, Malaysia; Ministry of Finance, Seychelles; the Oman Customs, Oman; Ministry of Economy, Finance and Planning, Equatorial Guinea; the state government of Karnataka, India; some African countries and Saudi Arabia. She also conducts lectures and customized GST workshops, providing GST Advisory Services and GST Compliance Assurance Reviews for GST-registered businesses. Currently, she is the writer of the Singapore Chapter of “VAT Worldwide,” published by the International Bureau of Fiscal Documentation (IBFD) and member of the Curriculum and Examination Development Committee of Tax Academy, Singapore.