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2014 Goods and Services Tax (GST) Workshop

Practical complexities in a simple GST

GST collection is the second largest contributor to the Singapore tax revenue at $9 billion after income tax and it has grown by 4% as compared to the previous financial year. GST now accounts for almost one quarter of the Singapore tax revenue. From a GST compliance perspective, $109 million in taxes and penalties were collected as a result of GST audits and investigations conducted by the Inland Revenue Authority of Singapore (IRAS). (Source: IRAS Annual Report 2012/13)

Businesses are thus encouraged to be proactive in managing their GST compliance. Having the right GST knowledge is a step in managing the risks and improving compliance. This will in turn help to avoid unnecessary IRAS audits, time and resources needed to rectify GST errors and penalties for filing incorrect GST returns.

The majority of GST errors are often due to the lack of knowledge of the GST rules and regulations. It is imperative that the staff responsible for the company’s GST returns are equipped with the necessary GST knowledge.

EY’s GST workshops provide an excellent platform to view GST afresh and to keep abreast of any changes.

Our workshops provide valuable insights into major GST risk areas and common errors.

Join us at our GST workshops for updates and an in-depth analysis on the practical issues and problems that businesses face, and how to better manage these issues. Attend the Common GST issues module and choose any of the following optional modules:

  • “All about goods”
  • “Services exposed”
  • “Preparation of GST forms”

Register

  • Who should attend

    Financial controllers, finance managers, accountants and accounting staff involved in the preparation of GST returns. Staff from operations, sales, logistics and administration have also benefited from our workshops.

  • Main workshop leaders
    • Yeo Kai Eng (Tax Partner)
    • Kor Bing Keong (Tax Partner)
  • Workshop agenda
    Day 1

    Common GST issues

    • Mechanics of GST, value of supply and types of supply
    • Inter-company billings and recovery of expenses
    • Conditions governing input tax claims
    • Deeming of output tax
    • Invoices in a foreign currency
    • Bad debt relief
    • Transfer of going concern
    • Updates on GST

    All about goods

    • Place and time of supply
    • Imports
    • Zero-rating of exports
    • Handling of goods on behalf of overseas principal
    • Exercise or case study

    Day 2

    Services exposed

    • Place of supply
    • Time of supply
    • Zero-rating of international services
    • Exercise or case study

    Preparation of GST forms

    • Completion of forms (GST F5, F7 and F8)
    • Payment or refund of GST
    • Record keeping requirements
    • Common errors
    • Exercise or case study
  • Modules and fees

    Main module

    Schedule Time Modules
    1st day, morning
     
    9:00 a.m. to 12:30 p.m.
    (Lunch provided)
    Common GST issues

    Optional modules

    Schedule Time Modules
    1st day, afternoon 1:30 p.m. to 5:00 p.m. All about goods
    2nd day, morning 9:00 a.m. to 12:30 p.m. Services exposed
    2nd day, afternoon 1:30 p.m. to 5:00 p.m Preparation of GST forms

    Fees

    Modules Clients/Alumni of EY/SIATP member Public
    Common GST issues + 3 modules $800 $860
    Common GST issues + 2 module $640 $700
    Common GST issues + 1 module $460 $520

    * Fees stated include lunch on first day of workshop, materials, refreshments and GST

    Group discount - A discount of 10% applies for organisations registering three or more participants in one registration.

  • CPE hours

    7 to 14 CPE hours, depending on choice of modules

  • Venue

    Raffles City Convention Centre
    (City Hall MRT Station)
    Level 4, Plaza Meeting Room
    80 Bras Basah Road
    Singapore 189560

Registration/ Enquiries

Cherie Chan
Tel: +65 6309 8297 or +65 6535 7777
Fax: +65 6532 7662

Ernst & Young Solutions LLP
Finance department
One Raffles Quay, North Tower
Level 18, Singapore 048583

Ernst & Young Solutions LLP reserves the right to cancel the seminar or amend the schedule, venue and speaker(s) due to circumstances beyond our control. Registration is on a first-come-first-served basis. We regret that we cannot give fee refunds, but changes in the personnel attending can be accommodated.

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