Understanding Sales Tax - Principles, Concepts and Compliance

25-26 Nov, 2020, Webinar Classroom Training

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Webinar Classroom Training

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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
  • Sales Tax Legislations
  • Concept of Sales Tax
  • Accounting for Sales Tax
  • Exemptions / Facilities under Sales Tax Act & Regulations
  • Sales Tax Special Provisions
  • Enforcement Powers of Customs Department
  • Offences and Penalties under Sales Tax Act
  • Exemptions, Refund, Drawback and Remission
  • Review and Appeal Procedures under Sales Tax Act – SST 03
OBJECTIVES

Sales Tax is a new tax system implemented in Malaysia replacing the Goods & Service Tax (GST). It is a single stage tax system encompassing various reliefs and exemptions unlike the previous GST system.

 

The objective of the course is to introduce participants to the principles and concepts related to Sales Tax and how businesses can benefit from the various reliefs and exemptions granted under the Sales Tax Legislations and not the least the issue of compliance with the legislations.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding The Concepts And Procedures Related To Sales Tax.
  2. Understanding The Different Types Of Exemptions, Facilities And Reliefs Granted Under The Sales Tax Legislations.
  3. Understanding Sales Tax Procedures, Documentation & Compliance Issues.
  4. Learning How Sales Tax Will Affect Manufacturers Presently Registered Under SST.
  5. Highlight The Common Mistakes Committed By The Manufacturer Registered Under Sales Tax Act 2018.
WHO SHOULD ATTEND
This course is suitable for all kinds of Service Providers, Tax Consultants and Professionals and alike.
METHODOLOGY
Interactive Lectures, Discussions and Q & A sessions.
DAY 1
9:00

Sales Tax Legislations

  • Sales Tax Act 2018
  • Sales Tax Regulations 2018
  • Sales Tax (Amendment) Regulations 2018
  • Sales Tax (Customs Ruling) Regulations 2018
  • Sales Tax (Rules of Valuation) Regulations 2018
  • Sales Tax (Compounding of Offences) Regulations 2018
  • Sales Tax (Amount Of Sale Value Of Taxable Goods Manufactured) Order 2018
  • Sales Tax (Goods Exempted From Sales Tax) Order 2018
  • Sales Tax (Person Exempted From Payment of Tax) Order 2018
  • Sales Tax (Exemption From Registration) Order 2018
  • Sales Tax (Imposition of Tax In Respect Of Designated Areas) Order 2018
  • Sales Tax (Imposition Of Tax In Respect Of Special Areas) Order 2018
 

Concept of Sales Tax

  • Concept of Single Stage Taxation
  • Definition of Manufacture under Sales Tax Act 2018
  • Sales Tax Registration / Calculating of Threshold
  • Taxable Person
  • Sales Tax Exemption from Registration
  • Imposition and Scope of Sales Tax
  • Determination of Sales Value
3.45

Accounting for Sales Tax

  • Issuance of Invoices/Record Keeping
  • Accounting Basis
  • Taxable Period
  • Treatment of Credit / Notes
  • Refund for Bad Debts
  • Submission of Sales Tax Returns (SST-02)
  • Power to Assess
 

Exemptions / Facilities Under Sales Tax Act & Regulations

  • Sales Tax (Persons Exempted from Payment of Tax) Order 2018
    - Jadual A – class of persons exempted from sales tax
    - Jadual B – exemptions for manufacturers of non-taxable goods
    - Jadual C – exemptions for registered manufacturers (replacing CJ5, CJ5A & CJ5B)
  • Schedule C - Exemptions
    - Lampiran C1 – Exemptions for registered manufacturers
    - Lampiran C2 – Exemptions to purchase on behalf of manufacturers
    - Lampiran C3 – Exemption for subcontracting
  • Sales Tax (Goods Exempted from Sales Tax) Order 2018
  • Sales Tax (Exemption from Registration) Order 2018
  • Sales Tax Deduction – Application and Conditions
5:30 End of Course
DAY 2
2.00

Sales Tax Special Provisions

  • Treatment of Designated Area of Labuan, Langkawi and Tioman
  • Treatment of Special Areas of Free Zones, Licensed Warehouse and LMW
 

Enforcement powers of Customs Department

 

Offences and Penalties under Sales Tax Act

3.45

Exemptions, Refund, Drawback and Remission

  • Power of Minister to exempt and refund – Section 35
  • Refund of sales tax short paid or erroneously paid – Section 39
  • Drawback of sales tax paid on goods re-exported – Section 40
  • Remission of sales tax – Section
 

Review and Appeal Procedures under Sales Tax Act – SST 03

5:30 End of Course