SST Implementation Revisit, Its Latest Update & GST Final Return

19 Nov, 2018, Dorsett Kuala Lumpur

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Mr. Tan Kok Tee has over 40 years of experience in financial, strategic and general management. He has held a variety of leadership and senior management roles in various organizations, the last being Group Chief Executive Officer. More than half of this time were spent in the Manufacturing Marketing & Distribution and Services organization, including Inchcape Timuran Berhad, Metroplex Berhad, and Perdana Industries Berhad.

 

He is a Fellow member of the Association of International Accountants, U K; Member of the Institute of Public Accountants, Aust.; Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries, holds a MBA in Finance from Charles Sturt University, Australia and a Gold Mastery H older in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s Train The Trainer Certificate since 2009 and a life member with the Malaysian Institute of Directors.

 

Mr. Tan has been involved in training and facilitation since beginning 2009. To-date he had conducted more than 300 training workshops, of which more about 200 are on GST including GST Accounting for both in-house as well as public, including for Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, Selangor state Human Resource Development Centre, Negeri Sembilan state Skills Development Centre, NGOs, political party as well as on behalf of various other training providers.

 

He also developed and delivered an Entrepreneurship program (training) especially for MBA students from GC University, Pakistan in collaboration with Sunway Education Group for period 2010 to 2014. He was also an assessor for the UTAR’s NGO strategic planning program and an invited speaker for the Asian Financial Controller’s Congress in 2009, 2010 and 2011.

Venue Details

Dorsett Kuala Lumpur
172 Jalan Imbi, 55100 Kuala Lumpur, - 55100
Phone : (603) 2716 1000

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Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • Fundamental And Scope Of SST
  • SST Registration
  • Sales Tax
  • Service Tax
  • Accounting
  • Anti-Profiteering Regulations Compliance
  • GST Transition Rules from GST to SST on Different Types of Transactions for Inclusion
    in the Final Return and Its Requirement Thereafter.
OVERVIEW

Sales and Service Tax (SST) that took effect 1/9/2018 in replacement of GST would meant that some Registered Manufacturer and Registered Service Provider will have to file its first return by end October and end November depending on your financial year month end.

 

Implementation compliance is KEY to avoid being committing an offence, whose fine and imprisonment terms are heavy.

 

Hence this course is designed to assist participants in their management of:

  1. Effective SST implementation according to legislations,
  2. Product & Services Costings and pricing in compliance with Anti-Profiteering regulations 2018 while at the same time achieve your desire profit, and
  3. Managing the GST transition rules and the filing of your final return in Dec. 18 correctly to avoid being committing an offence.


AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB...
  1. Understanding the SST concept, scope and its implementation mechanism.
  2. Understanding the various SST Exemptions / Benefits facilities availability.
  3. Being aware of SST’s taxable period, preparation of returns and record keeping.
  4. Understanding costing and pricing calculations in compliance with relevant regulations.
  5. Understanding the GST transition rules from 6% to 0% to SST requirements.
WHO SHOULD ATTEND
  • Business Owners and Company Directors
  • CFOs, Financial Controllers and Finance Managers,
  • Accountants, Accounts Executives, Accounts Assistants.
  • Business Advisors, Auditors and Internal Audit Staff
  • Freelance Accounting Professionals,
  • Procurement/Purchasing and Logistics Managers
  • Other functional staff engaged in GST and SST matters.
METHODOLOGY
  • Interactive Lectures, Discussions and Questions and Answers sessions. Questions and Answers along the way plus post course email support for 3 months from the date of the course.
  
HERE IS WHAT YOU WILL LEARN
9:00 FUNDAMENTAL AND SCOPE OF SST
  • Imposition of SST.
  • Repeal of GST Act:
    a. Saving provisions of the old sales tax act 1972, service tax act 1975.
    b. Saving provisions of the GSTA 2014
    c. Filing of final returns.
  • General Scope of Sales and Service Tax.
  SST REGISTRATION
  • General Threshold and its determination
  • Mandatory and Voluntarily registration
  • Group, Branch and Partnership registration.
  • Timing of Registrations and its effective date.
  • Single Taxable person concept
  • Transfer of Going Concerns
  • Registration Cancellation
  • Responsibilities of a Registered Person.
10.45 SALES TAX
  • Person affected by Sales Tax – Importers, Exporters and Manufacturers.
  • 3 types of taxable areas and its valuation for tax purpose for 3rd party and inter-company.
  • Definition of Manufacturing
  • Rate of Tax Order – Exempt, 5%, 10% and Specific rate.
  • Product HS / Customs Tariff code understanding and its importance.
  • Types of exemptions under the exemption orders:
    a. Goods exempted from charging sales tax
    b. Persons exempted from paying sales tax.
    i. Schedule C – Registered Manufacturers and person acting on behalf of manufacturers
    ii. Schedule B – Non- Register Manufacturer on their production of specific sales tax exempted goods.
    iii. Schedule A – Other categories of person, including manufacturing sub- contractors.
    c. 20 activities exempted from sales tax registration.
    d. The difference between one another of a, b and c.
  • Treatment for import and goods movement to and from:
    a. Designated Areas
    b. Special Areas
  • Sales Tax drawback facilities.
  • Bad Debt Relief claims and other provision governing refund applications
  • Transition Rules from GST to SST.
  • Suggested tax code for your transaction and your SST audit file.
12.00 SERVICE TAX
  • Service Provider and its 9 category of Taxable services
  • Specific Threshold determination of taxable person.
  • Inter-Company Management services and definition of group companies
  • Directors’ fees.
  • Treatment for services supplies within, to and from:
    a. Designated Areas
    b. Special Areas
  • Contra System
  • Suggested tax code for your transaction and your SST audit file.
1:00 Lunch

2:00 ACCOUNTING
  • Invoice, Debit Note and Credit Note prescribed particulars requirement.
  • Standard and Specific Taxable Period
  • Filing of Returns & Payment of Tax
  • Transaction classification code in supporting of your returns.
  • Bad Debt Relief.
  • Record Keeping.
  • GST and SST Business operation cost difference identification.
  • Offences, Compound and Penalties
  ANTI-PROFITEERING REGULATIONS COMPLIANCE
  • Understand its scope coverage requirements and its offences.
  • Learning their mark-up margin and unreasonable high profit calculation.
3:45 GST TRANSITION RULES FROM GST to SST
ON DIFFERENT TYPES OF TRANSACTIONS FOR INCLUSION IN THE FINAL RETURN AND ITS REQUIREMENT THEREAFTER.
  • Invoicing Matters
  • Retention monies
  • Bad Debt Recover and Repayment of input tax.
5:00 End of Course