Course Detail(TAX210 : Managing GST Accounting & Audit Compliance in Singapore)

SDF Funding, SkillsFuture Credit, UTAP Funding

TAX210 : Managing GST Accounting & Audit Compliance in Singapore

14.00 CPE Hours (Others)
Classroom


Programme Objective
 
GST has already been implemented for more than 20 years in Singapore, and in 2016 a total of 211 million have been collected from GST audit out of 3201 cases. Faced with an increased risk for Businesses to be GST compliant, there is an urgent need to examine and understand GST issues that may be incorrectly treated or overlooked altogether by every GST registered businesses.
 
We have specially designed this workshop to provide a clear understanding of the difference between GST concepts and Accounting treatments, as well as how to manage GST Risk. It will also provide insights on GST compliance and what is a good GST accounting system.  Finally, it will clear your doubts and equip you with skills to resolve GST uncertainties and prepare for GST Audit.

Programme Outline

Day 1

  • Difference between the concept of Supply in Accounting treatment and GST compliance. 
  • Challenges commonly faced in GST preparation using Manual Accounting System and Computerized Accounting System
  • Impact of cash and credit transactions on Accounting treatment and GST Processes.
  • An understanding of how GST affects the financial accounts

Day 2

  • GST Documentation and record keeping
  • Identification of common mistakes found in GST Audits conducted by IRAS
  • GST Audit and reconciliation
  • Preparation of GST return and introduction of GST Tax Codes.

Training Methodology
 
Lecture style, with Exercises/Case Studies

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

Intended For

Tax and Accounting professionals and staffs who are involved in GST compliance work; and non-tax professionals who want to understand GST preparation and submission and preparation in Singapore.

Competency Mapping

Others = 14.00 Hours

Schedule & Fees

Date & Time

02 Dec 2019 (9:00 AM - 5:00 PM)
03 Dec 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Robin Chia

Date & Time

07 May 2019 (9:00 AM - 5:00 PM)
08 May 2019 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Robin Chia

Date & Time

29 Nov 2018 (9:00 AM - 5:00 PM)
30 Nov 2018 (9:00 AM - 5:00 PM)

Registration is closed

Programme Facilitator(s)

Dr Robin Chia

Testimonial

Funding

1] SkillsFuture Credit (SFC)
Funding Period: Until 27 Jun 2020
Course Ref No. : CRS-N-0050100

All Singaporeans aged 25 and above will receive an opening credit of S$500 from the government. The credits will not expire and periodic top-ups will be provided by the government. SFC may be accumulated to pay for skills related course fees. You may wish to use your SFC to pay for partial/full ISCA course fees.  (For more information on the SFC scheme, please visit http://www.skillsfuture.sg/credit)

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

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for SkillsFuture Credit?”, click “Yes” and input all required information. At the Cart page, please ensure that SFC funding is applied before clicking “Checkout”.
  • Step 2: After successful enrolment, please proceed to submit SFC claim on Skillsfuture Portal within 60 days before the course start date and obtain the necessary approval. Please submit SFC claim via SFC portal here: http://www.skillsfuture.sg/credit.

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 $42.80 for any revision of invoice.


2] WDA Training Grant - SDF Funding
This course is approved for SDF funding ($2 per training hour) for Company-sponsored participants only (Eligibility criteria apply). 

Funding Period: Until 27 Jun 2020
Funded Hours: 14 hours
Course Ref No. : CRS-N-0050100

If you wish to enrol participants with SDF Funding, please proceed with the following steps (For Corporate enrolments only) :

  • Step 1: Register for the course online via ISCA Portal. Upon adding to cart, the system will prompt a question “Do you wish to apply for WDA Funding?”, click Yes and input all required information. At the Cart page, please ensure that SDF funding is applied before clicking “Checkout”.
     
  • Step 2: After successful enrolment, please proceed to submit the Training Grant application via SkillsConnect Portal here: https://www.skillsconnect.gov.sg/

Employers of company-sponsored participants must submit training grant via SkillsConnect system to obtain training grant for course fees. You may submit the Training Grant application within the period from 30 days before the course start date to 30 days after course start date. Please note that there will be an administrative fee of $42.80 for any revision of invoice.

Eligibility Criteria:

  • Company must be registered or incorporated in Singapore and;
  • Applicant is taking the course for the first time.
  • Applicant must be employed, and is either Singapore Citizen or Permanent Resident of Singapore and;
  • Applicant must achieve at least 75% attendance, and pass all examinations /assessments and;
  • Applicant must be fully sponsored by the Company for all costs associated with the training and;
  • Payment has to be made via corporate means (e.g. corporate cheque, corporate GIRO, corporate credit card).

 

3] NTUC Union Training Assistance Programme (UTAP)
UTAP (Union Training Assistance Programme) is an individual skills upgrading account for NTUC members. NTUC member gets to enjoy UTAP funding 50% of the unfunded course fee capped at $250 every year. This excludes miscellaneous fees such as GST and registration fee etc.
 
This course is approved for UTAP support for intakes conducted between 01 April 2019 – 31 March 2020.
 
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.


To submit for UTAP claims, please visit http://skillsupgrade.ntuc.org.sg/. Terms and conditions apply.
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)


Dr Robin Chia

Dr Robin Chia is currently a Chartered Accountant in Malaysia, Singapore, Australia and United Kingdom and is also an ASEAN Certified Public Accountant. He is currently the Managing Director of a Public Accounting Corporation based in Singapore with international network. He was previously appointed as Adjunct Professor in few Chinese Universities and a Provincial Business Ambassador in the Republic of China. He specializes in tax and GST and possesses vast experience in dealing with the tax authorities over GST issues, rulings, audit and investigations on behalf of his clients. 

He has previously acted as business and IT adviser for many large international companies on the business documentation process and the managing of GST Audit in Malaysia. He was the Executive Director of GST and Business Advisory in Tricor Malaysia. He also pioneered in reforming GST Ready Cloud Accounting System in 2014 which is approved by Royal Customs Malaysia and is currently used in Singapore and Malaysia. Dr Robin Chia is currently the Managing Director of a digital investigation company in Singapore specializes in corporate fraud, due diligence and cyber security within ASEAN.

He is a frequent guest speaker for many professional bodies within South East Asia and has done extensive research on Accounting and Auditing Standards, Goods and Services Tax, Risk Management and Internal Audit, Corporate Fraud and Forensic Accounting. He has been invited to speak with the government and other institutions in Singapore, Malaysia, China, Hong Kong, Laos and Vietnam and has conducted numerous external training, seminars and workshops since 1996. He was also the past Chairman and GST Technical Advisor for RCCM GST Network in Malaysia whose members are either professional accountants in public or private sectors. Since 2014, Dr Robin Chia has been advising and provide training to his clients with regards to the process redesign and personal data compliance in Singapore.

 


Programme Objective
 
GST has already been implemented for more than 20 years in Singapore, and in 2016 a total of 211 million have been collected from GST audit out of 3201 cases. Faced with an increased risk for Businesses to be GST compliant, there is an urgent need to examine and understand GST issues that may be incorrectly treated or overlooked altogether by every GST registered businesses.
 
We have specially designed this workshop to provide a clear understanding of the difference between GST concepts and Accounting treatments, as well as how to manage GST Risk. It will also provide insights on GST compliance and what is a good GST accounting system.  Finally, it will clear your doubts and equip you with skills to resolve GST uncertainties and prepare for GST Audit.

Programme Outline

Day 1

  • Difference between the concept of Supply in Accounting treatment and GST compliance. 
  • Challenges commonly faced in GST preparation using Manual Accounting System and Computerized Accounting System
  • Impact of cash and credit transactions on Accounting treatment and GST Processes.
  • An understanding of how GST affects the financial accounts

Day 2

  • GST Documentation and record keeping
  • Identification of common mistakes found in GST Audits conducted by IRAS
  • GST Audit and reconciliation
  • Preparation of GST return and introduction of GST Tax Codes.

Training Methodology
 
Lecture style, with Exercises/Case Studies

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

Intended For

Tax and Accounting professionals and staffs who are involved in GST compliance work; and non-tax professionals who want to understand GST preparation and submission and preparation in Singapore.

Competency Mapping

Others = 14.00 Hours

Programme Facilitator(s)

Dr Robin Chia

Dr Robin Chia is currently a Chartered Accountant in Malaysia, Singapore, Australia and United Kingdom and is also an ASEAN Certified Public Accountant. He is currently the Managing Director of a Public Accounting Corporation based in Singapore with international network. He was previously appointed as Adjunct Professor in few Chinese Universities and a Provincial Business Ambassador in the Republic of China. He specializes in tax and GST and possesses vast experience in dealing with the tax authorities over GST issues, rulings, audit and investigations on behalf of his clients. 

He has previously acted as business and IT adviser for many large international companies on the business documentation process and the managing of GST Audit in Malaysia. He was the Executive Director of GST and Business Advisory in Tricor Malaysia. He also pioneered in reforming GST Ready Cloud Accounting System in 2014 which is approved by Royal Customs Malaysia and is currently used in Singapore and Malaysia. Dr Robin Chia is currently the Managing Director of a digital investigation company in Singapore specializes in corporate fraud, due diligence and cyber security within ASEAN.

He is a frequent guest speaker for many professional bodies within South East Asia and has done extensive research on Accounting and Auditing Standards, Goods and Services Tax, Risk Management and Internal Audit, Corporate Fraud and Forensic Accounting. He has been invited to speak with the government and other institutions in Singapore, Malaysia, China, Hong Kong, Laos and Vietnam and has conducted numerous external training, seminars and workshops since 1996. He was also the past Chairman and GST Technical Advisor for RCCM GST Network in Malaysia whose members are either professional accountants in public or private sectors. Since 2014, Dr Robin Chia has been advising and provide training to his clients with regards to the process redesign and personal data compliance in Singapore.

 

Upcoming Schedule

Registration is closed

Date & Time

02 Dec 2019 (9:00 AM - 5:00 PM)
03 Dec 2019 (9:00 AM - 5:00 PM)

Fee (inclusive of GST)

For Members: $ 652.70
For Non-Members: $ 783.24

Programme Facilitator(s)

Dr Robin Chia

Venue

137 Cecil Street
Level 4
Hengda Building
Singapore 069537