GST : INTERMEDIATE Peace of mind for Goods and Services Tax - Registration and compliance 17 & 18 July 2014 ( 9 – 3 PM ) | DR CHOONG KWAI FATT | PULLMAN , KUCHING www.synergytas.com/gstkuching HRDF Claimable (Subject to employer’s application to PSMB) 10 CPD Early bird until 13 June 2014 GST is Malaysia’s new tax system which affects all walks of life, it will change the way we do business, purchasing policies and record keeping be it a small or multinational companies. Synergy TAS Tax Seminar Specialist THIS COURSE COVERS CORE AREA OF GST, IT IS APPLICABLE TO ALL INDUSTRY.
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GST :
INTERMEDIATE Peace of mind for Goods and Services Tax
- Registration and compliance
17 & 18 July 2014 ( 9 – 3 PM ) |
DR CHOONG KWAI FATT |
PULLMAN , KUCHING
www.synergytas.com/gstkuching
HRDF Claimable (Subject to employer’s application to PSMB)
Since the announcement of GST to be implemented with effect from 1 April 2015 and announcing its registration commencing from June 2014, GST seems to be a nightmare haunting everyone especially on business entrepreneur, corporate
directors and also those involve in administrative matters, not forgetting the accountants with the increased workloads and GST risks.
GST
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Synergy TAS Tax Seminar Specialist
SEMINAR’S
OBJECTIVE
Well researched content to
shorten your learning curve
Provide step by step approach to
ease GST Implementation
An examination of the effect and
impact of GST on business operators
Guide to selection of GST software
Guide to avoid pitfall in GST
implementation
Identify potential technical errors
in GST implementation
gst
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“ The "time bomb" is
ticking and requires
business operator and
decision maker to act
immediately to guard
against easily avoided tax
risk and loss out on tax
planning opportunities. “
Ease your transition into the new tax era of Goods and Services Tax.
Malaysian taxation will never be the same. It does not only change the
tax law, it will also change the way we do business, record keeping and
documentation
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∞ What is the seminar about_
The course content (not exhaustive)
GST is growing on a
continuous and progressive
manner, with new guides
and ruling being introduced
by Royal Malaysian
Customs (RMC),
the content listed is
not exhaustive,
it will be further expanded.
The Goods and Services Tax is taking off on 1 April 2015. GST is a single consumption tax at 6%, based on value
added concept. Companies are given an onerous task to embed the Malaysian GST model into its business and
accounting system within these 13 months which is definitely not an easy mission to accomplish.
The transitional period prior to implementation of GST during migrating to GST has great impact on stock, capital
equipment that must be considered along with impact of business profitability and cash flow. The impact of 6%
GST on its prices and the consumer reaction cannot be ignored.
These 1 day course will unlock the Malaysia GST model, its mechanism, conceptual framework to assist you in
the GST implementation. This is an event created based on request by our existing participant to assist you in
comprehending as to how to embed GST into your business.
(a) GST registration with RMC Office and obtain
a GST license
(b) The meaning of GST being consumption tax, its
concept and its mechanism
(c) The meaning of supply, mix supply and deemed supply
(d) Valuation concept on supply
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(j) Promotional expenses, incentive
scheme of manufacturers
(k) GST treatment on goods returned,
treatment of stock written off
(l) The scope and meaning of a
“good accounting system” as
required by Royal Malaysian
Customs
(m) Rate of GST : standard rate, zero
rated and exempt
(n) Transition from existing indirect
tax into GST
(o) Technical errors possible to be
accounted with GST
implementation
(e) Designing tax invoice to capture
GST output and other invoice’s
features
(f) Identifying purchases and
overhead expenses (with GST
paid) that can qualify for input
tax refund/credit to be deducted
from GST output
(g) Studying whether group
registration is beneficial for your
companies
(h) Suggesting software features
to be incorporated for GST
compliance
(i) Treatment of bad debts
The workshop
also includes
GST administration on:
(a) How to carry out GST returns, book recording, and
payment of GST
(b) Claiming a refund on GST paid on input
(c) Group registration for GST
As more implementation matter is announced by RMC, the content will be updated.
Knowledge is important;
Implementation plan is
also the main focus for
this seminar.
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Presentation skill : Interesting presentation & makes thing
“feels” easy When we regard something as interesting and have passion about it, it does feel a lot easier
to comprehend. GST is a whole new tax system , with some intellectually challenged
complicated components. Our speaker, Dr Choong Kwai Fatt is known for his ability
to make taxation LIVELY, FUN and PRACTICAL.
It gives you the encouragement to learn
much more and commit to memory better.
Why this seminar is
special : here’s why_
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KNOWLEDGE IS POTENTIAL POWER ,
PRACTICAL IMPLEMENTATION PLAN IS THE POWER.
4 hours of precious Q & A session Applied knowledge is what we plan to deliver. With 2 hours of Q & A at the end of each day, it will provide answers to
participants on practical implementation concerns. A precious and useful learning ground for all participants.
Implementation, implementation, implementation… ! Knowing and able to state all GST theories may seem impressive and “perceived” as an expert, but it is not effective
unless and until the participant acquired the necessary skills for practical implementation. Time is ticking with so much
GST implementation steps to be carried out. No time to be wasted on public display of “perceived” knowledge, we focus
on delivering practical implementation skill and plan.
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Who is it
for_
GST Compliance Officer
(Personnel involved in
implementing GST) The one who is given the honours and duty to figure out how to implement GST in your organisation. (applicable to all industry).
Decision Makers (CEO, CFO, General Manager and Financial Controller) Major changes and substantial decision making has to be made to embed GST into company’s activities and affect substantial buying , selling and conclusion of contracts.
Administrative managers You are the one who will oversee the purchase and distribution of goods in your company. It is the right time to learn up on the implementation of GST. How your action need to be
refined to embed GST system into your operation.
Professionals (auditor, tax agents and company secretary) The advisors to businesses please gear up and patch up your dose of GST knowledge and implementation action plan. Auditor has a substantial role to play during transitional period.
Accountants Applying a new MFRS is tough enough, what more a whole new GST system which is transactional based and cut across all
transactions in your entity. The record keeping and recording of historical transaction has a new role to play, it is paramount important for you to understand all the ins and outs of GST implementation. How it will affect your documentation from now onwards and all the compliance requirements and thresholds table involved. There are ample work to prepare before the shift.
IT personnel For those involved in designing software that
is to be used in GST implementation.
Implementation of GST is transactional based. The aid of accounting software with GST’s features has never been so crucial for taxation until now
THIS SEMINAR COVERS CORE AREA OF LEARNING FOR GST,
IT IS APPLICABLE TO ALL INDUSTRIES. * APPLICABLE EVEN TO THOSE WHO HAVE NO BASIC KNOWLEDGE ABOUT GST.
BUT UNDERSTANDING OF DOUBLE ENTRY IS RECOMMENDED.
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About Speaker_
Get to know more about your wonderful speaker
DR CHOONG KWAI FATT is the pioneer in GST. He is appointed by the Ministry of Finance as one of the panel members reviewing tax reforms in Malaysia, inclusive of the formulation of GST. With his research work on GST being published in 2006 and articles in 2007.
He has more than 24 years’ experience of providing consultancy services to listed companies, audit firms and the Government. Dr Choong is a highly sought GST & tax consultant and speaker. He is highly qualified with both professional accounting qualification and legal qualification. With chartered accountancy from 6 professional bodies and called to bar as an Advocate and Solicitor in Malaysia. Also an avid researcher equipped with a PhD in taxation.
He has won various awards for excellent in tax research and published GST & taxation articles in reputable
journals in and outside Malaysia. His research works have been quoted in many tax cases and have
influenced the formulation of tax policy in Malaysia.
He is known by attendee of his seminar as a man with heart of gold. He is passionate about helping the tax
professionals, accountants, senior executive, lawyers and business owners to enhance in taxation skills,
knowledge and wealth through mitigating of GST risk and implementation. Having more than 20 years of
experience in public speaking, participants love him for this passion in taxation and ability to make complex
tax concept understandable by different walks of life.
He is the expert of experts in terms of GST & tax planning, where he provided advice and personally trained
corporate accountants and professional firms on tax planning and GST implementation. Get ready to take
good notes when you attend his GST implementation seminars. DR CHOONG KWAI FATT
Tax Consultant, Advocate and Solicitor (High Court of Malaya)