Course Detail(TAX287v : GST Risks and Controls: Major Exporter Scheme (“MES”) and Import GST Deferment Scheme (“IGDS”) (Live Webinar))
Not Available

UTAP Funding

TAX287v : GST Risks and Controls: Major Exporter Scheme (“MES”) and Import GST Deferment Scheme (“IGDS”) (Live Webinar)

3.50 CPE Hours (Others)
Live Webinar

Programme Objective

  • Learn how incoterm affects your import suspension scheme like MES and IGDS
  • Identify common errors for the MES and IGDS
  • Implement controls to prevent errors for MES and IGDS

Programme Outline

The Major Exporter Scheme (“MES”) and Import GST Deferment Scheme are the most common GST schemes in Singapore to relieve companies of the cash flow cost of paying import GST to Singapore Customs and subsequently claiming it as input tax in the GST returns.

These import suspension schemes are important for companies especially when the GST rate has increased to 8% and will be increasing further to 9% on 1 January 2024. The
IRAS can revoke the GST schemes if they are being abused.

Why is incoterm important when you purchase from local supplier? How to eliminate any errors when using MES and IGDS?

Come and join us in this GST webinar to find out more.

The training will cover the following topics:

  • Overview of MES and IGDS
  • Approved use of the MES/IGDS status
  • Why incoterm is important when you purchase from local supplier
  • Importing goods as a section 33(2) and 33A agent
  • When can you import goods on behalf of your local customer or GST registered overseas customer using your MES/IGDS status?
  • GST risks on MES/IGDS and the controls that can be implemented
  • Voluntary disclosure programme

 

Training Methodology
Live Webinar

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

An intermediate level programme intended for:

  • Companies applying for or renewing their Major Exporter Scheme (MES) or Import GST Deferment Scheme (IGDS) 
  • People from the Finance, Tax, Procurement, Logistics and Supply Chain department

Competency Mapping

Others = 3.50 Hours

Schedule & Fees
Date & Time

28 May 2024 (9:00 AM - 12:30 PM)

Fee (inclusive of GST)

For Members: $ 183.12
For Non-Members: $ 218.00

Programme Facilitator(s)

Eddie Soh

Venue

Live Webinar in or outside of
Singapore

Testimonial

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 08 February 2024 – 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)


Eddie Soh
 
Eddie Soh is the co-founder of Jed Tax Consulting, a Singapore consulting firm specialising in Goods and Services Tax (GST).  With more than 20 years of practical GST experience gained from working at Inland Revenue Authority of Singapore as a tax auditor and big four accounting firm (PwC) as a tax advisor, Eddie is the subject matter expert you go to when you need advice on goods and services tax (“GST”) matters.
 
He is an accredited tax advisor (GST) with Singapore Chartered Tax Professional and he speaks regularly at public GST workshop and seminars. The primary objective of conducting workshop and seminars is to share the knowledge gained from his experience and his long term goal is to digitalise the knowledge so that it can be easily accessed by others.
 
Eddie is a GST advisor by profession and he finds joy in solving your GST problem. Having led 43 multi-national companies to Assisted Compliance Assurance Programme (“ACAP”) premium status, he now advises clients on the best practices that should be in place to prevent and detect GST errors.

Programme Objective

  • Learn how incoterm affects your import suspension scheme like MES and IGDS
  • Identify common errors for the MES and IGDS
  • Implement controls to prevent errors for MES and IGDS

Programme Outline

The Major Exporter Scheme (“MES”) and Import GST Deferment Scheme are the most common GST schemes in Singapore to relieve companies of the cash flow cost of paying import GST to Singapore Customs and subsequently claiming it as input tax in the GST returns.

These import suspension schemes are important for companies especially when the GST rate has increased to 8% and will be increasing further to 9% on 1 January 2024. The
IRAS can revoke the GST schemes if they are being abused.

Why is incoterm important when you purchase from local supplier? How to eliminate any errors when using MES and IGDS?

Come and join us in this GST webinar to find out more.

The training will cover the following topics:

  • Overview of MES and IGDS
  • Approved use of the MES/IGDS status
  • Why incoterm is important when you purchase from local supplier
  • Importing goods as a section 33(2) and 33A agent
  • When can you import goods on behalf of your local customer or GST registered overseas customer using your MES/IGDS status?
  • GST risks on MES/IGDS and the controls that can be implemented
  • Voluntary disclosure programme

 

Training Methodology
Live Webinar

Closing Date for Registration
1 week before programme or until full enrolment.

Intended For

An intermediate level programme intended for:

  • Companies applying for or renewing their Major Exporter Scheme (MES) or Import GST Deferment Scheme (IGDS) 
  • People from the Finance, Tax, Procurement, Logistics and Supply Chain department

Competency Mapping

Others = 3.50 Hours

Programme Facilitator(s)

Eddie Soh
 
Eddie Soh is the co-founder of Jed Tax Consulting, a Singapore consulting firm specialising in Goods and Services Tax (GST).  With more than 20 years of practical GST experience gained from working at Inland Revenue Authority of Singapore as a tax auditor and big four accounting firm (PwC) as a tax advisor, Eddie is the subject matter expert you go to when you need advice on goods and services tax (“GST”) matters.
 
He is an accredited tax advisor (GST) with Singapore Chartered Tax Professional and he speaks regularly at public GST workshop and seminars. The primary objective of conducting workshop and seminars is to share the knowledge gained from his experience and his long term goal is to digitalise the knowledge so that it can be easily accessed by others.
 
Eddie is a GST advisor by profession and he finds joy in solving your GST problem. Having led 43 multi-national companies to Assisted Compliance Assurance Programme (“ACAP”) premium status, he now advises clients on the best practices that should be in place to prevent and detect GST errors.

Upcoming Schedule

Date & Time

28 May 2024 (9:00 AM - 12:30 PM)
Fee (inclusive of GST)

For Members: $ 183.12
For Non-Members: $ 218.00

Programme Facilitator(s)

Eddie Soh

Venue

Live Webinar in or outside of
Singapore


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