Course Detail(TAX005v : Goods and Services Tax Workshop (Synchronous e-learning))

SkillsFuture Credit, UTAP Funding

TAX005v : Goods and Services Tax Workshop (Synchronous e-learning)

7.00 CPE Hours (Others)
Live Webinar

This session is delivered via live webinar (zoom platform).

Programme Objective

GST has already been implemented for more than 20 years now, and yet many GST traders are still making many mistakes. This workshop aims to provide participants with the basic knowledge on GST concepts as well as the rules and regulations in Singapore. It will also help them avoid potential pitfalls and appreciate the potential GST issues that will accompany almost every business transaction. The penalties for not getting GST right can be costly to businesses and hence should not be ignored.

Programme Outline

  • Overview of GST System and How It Works
  • Key Concepts of GST including Types, Place, Time & Value of Supplies
  • Transfer of Going Concern
  • Claiming Input Tax Credits, including pre-registration input tax and bad debts relief
  • Fringe Benefits
  • Importation of Goods – Major Exporter Scheme and Import GST Deferment Scheme
  • Exports and International Services
  • Accounting for GST
  • Interaction between income tax and GST
  • Registration & Record Keeping
  • Tax Receipts and Invoices
  • Completing GST Forms and Returns
  • Common GST errors made by business
  • Advance Ruling System
  • Offences and Penalties
  • GST Assisted Self-Help Kit (ASK)
  • GST Assisted Compliance Assurance Program (ACAP)
  • Voluntary Disclosure Program (VDP)
  • GST on Imported Services – Reverse Charge and Overseas Vendor Registration
  • Recent GST Changes


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

Junior tax professionals and accountants who are involved in GST compliance work; and Non-tax professionals who want to achieve a higher appreciation of corporate tax laws, regulations and practice.

Competency Mapping

Others = 7.00 Hours

Schedule & Fees

Date & Time

28 Jun 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore

Date & Time

09 Sep 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore

Date & Time

06 Dec 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore

Testimonial


Useful session for me as a newbie to GST, I gained better understanding on the GST system and key concepts for application to my work.

Past Participant


I've learned a lot from the course and its really helpful in the current function I have right now. The application of the different GST classification, when and to what particular transaction is to be applied is the thing I appreciate most in this program.

Past Participant


Prof Simon’s ability in providing clear explanation on the subject is very helpful. Hope to attend more of Prof Simon's courses

Past Participant


Prof Simon is extremely knowledgeable on GST in Singapore; his vast experience and deep knowledge about GST allows him to give clear and succinct illustrations as well as explanations. Participants are able to benefit greatly from this clarity during the delivery of his workshop; participants are able to develop a greater understanding of Singapore GST.

Past Participant


Trainer is very experienced and shared a lot of common scenarios which helps to clarify the tax treatment. This helps us to prepare our returns and report correctly to avoid compliance issues.

Past Participant


It was a comprehensive one day workshop, giving me an update on GST regulations, refresh on compliances and new requirements. Very good workshop and Mr Simon Poh is a dedicated and knowledgeable trainer!

Past Participant

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 31 Dec 2024
Course Reference Number: TGS-2020501122

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. You may wish to use your SFC to pay for partial/full ISCA course fees. 

On 1 Oct 2020, the Government provided a one-off SkillsFuture Credit Top-up of $500 for all eligible Singaporeans aged 25 or above by 31 Dec 2020. Singaporeans aged 40 to 60 by 31 Dec 2020 will also receive an Additional SkillsFuture Credit (Mid-Career Support) of $500 which can be used for courses under: (i) SGUnited Skills Programme, (ii) SGUnited Mid-Career Pathways Programme – Company Training, and (iii) Career Transition Programmes. This additional SFC (Mid-Career Support) is NOT applicable for use on ISCA courses. (For more information on the SFC scheme, please visit www.myskillsfuture.gov.sg)

If you wish to enrol for the course with SFC Funding, please proceed with the following steps:

Failure to submit claim application and obtain necessary approval before the course start date will result in topping up of the SFC indicated for use. Please note that there will be an administrative fee of $43.20 for any revision of invoice.

 

2] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members.

To find more on the UTAP funding and support validity period please click here.
Should you have queries on the funding scheme, you can email to UTAP@e2i.com.sg or call NTUC Membership Hotline at 6213-8008

Programme Facilitator(s)


Assoc Prof (Practice) Simon Poh
FCA (Singapore), ATA (Income Tax and GST), MSID, MBA

Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School where he teaches taxation and advanced taxation modules.  This is a full-time employment from 1 Jul 2014.  Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.  He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms.  His extensive experience includes GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.  Simon continues to be active in professional tax-related work outside his teaching responsibilities.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993.  He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, an ASEAN CPA since 2017, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served as Chairman of the SME Tax Committee since 2012.   Simon also served as a Board Member of SIATP from January 2013 to March 2020.  In 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax.  Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.  He is the author of Taxation in Singapore which was first published in 2008.  In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).

This session is delivered via live webinar (zoom platform).

Programme Objective

GST has already been implemented for more than 20 years now, and yet many GST traders are still making many mistakes. This workshop aims to provide participants with the basic knowledge on GST concepts as well as the rules and regulations in Singapore. It will also help them avoid potential pitfalls and appreciate the potential GST issues that will accompany almost every business transaction. The penalties for not getting GST right can be costly to businesses and hence should not be ignored.

Programme Outline

  • Overview of GST System and How It Works
  • Key Concepts of GST including Types, Place, Time & Value of Supplies
  • Transfer of Going Concern
  • Claiming Input Tax Credits, including pre-registration input tax and bad debts relief
  • Fringe Benefits
  • Importation of Goods – Major Exporter Scheme and Import GST Deferment Scheme
  • Exports and International Services
  • Accounting for GST
  • Interaction between income tax and GST
  • Registration & Record Keeping
  • Tax Receipts and Invoices
  • Completing GST Forms and Returns
  • Common GST errors made by business
  • Advance Ruling System
  • Offences and Penalties
  • GST Assisted Self-Help Kit (ASK)
  • GST Assisted Compliance Assurance Program (ACAP)
  • Voluntary Disclosure Program (VDP)
  • GST on Imported Services – Reverse Charge and Overseas Vendor Registration
  • Recent GST Changes


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

Junior tax professionals and accountants who are involved in GST compliance work; and Non-tax professionals who want to achieve a higher appreciation of corporate tax laws, regulations and practice.

Competency Mapping

Others = 7.00 Hours

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh
FCA (Singapore), ATA (Income Tax and GST), MSID, MBA

Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School where he teaches taxation and advanced taxation modules.  This is a full-time employment from 1 Jul 2014.  Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014.  He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms.  His extensive experience includes GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments.  Simon continues to be active in professional tax-related work outside his teaching responsibilities.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993.  He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, an ASEAN CPA since 2017, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served as Chairman of the SME Tax Committee since 2012.   Simon also served as a Board Member of SIATP from January 2013 to March 2020.  In 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax.  Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006.  He is the author of Taxation in Singapore which was first published in 2008.  In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).


Upcoming Schedule

Date & Time

28 Jun 2024 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 318.28
For Non-Members: $ 382.59

Programme Facilitator(s)

Assoc Prof (Practice) Simon Poh

Venue

Online Classroom in or outside of
Singapore