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Description
This is a one-day workshop covering two distinct and topical GST topics: GST treatment on International Services in the morning (AM) and GST treatment on Recovery of Expenses in the afternoon (PM).
Zero-rating of international services is one of the more challenging areas of GST. Companies may only zero-rate their supply of services if it falls within the description of international services under Section 21(3) of the GST Act.
Additionally, understanding the differences between reimbursements and disbursements is essential as they are treated very differently for GST reporting purposes.
This practical workshop will use practical scenarios, case studies and examples to reinforce your understanding of the correct GST treatment on international services and recovery of expenses for GST reporting purposes, and therefore, avoid costly penalties.
Programme Outline
AM Session: 9am-12.30pm
- Determining the belonging status of customers
- Clarification on “directly in connection with” and “directly benefit”
- Misconceptions
- List of services and their conditions
- Examples and illustration
- Avoiding the mistakes commonly made in applying zero-rating
- Recent updates
Q&A
PM Session: 1.30pm-5.00pm
- Difference between reimbursement and disbursement
- Are you acting as a principal or an agent?
- Indicators for determining the principal or agent relationship
- Recovery of expenses which is ancillary to a primary supply
- Recovery of expenses which is separate and not ancillary to any primary supply
- Recovery of expenses at costs or with a mark-up – is there a difference?
Q&A
This unique workshop format offers you the option to attend either the AM, PM or ONE-DAY session.
AM Session: GST Treatment on International Services, click HERE
PM Session: GST Treatment on Recovery of Expenses, click HERE
By attending the one-day session, you enjoy greater savings and lunch will be provided. Register NOW!
What you will learn
At the end of this workshop, you will:
- Deepen practical understanding of the challenging concept of zero-rating international services
- Gain in-depth insights on the essential issues and peculiarities of zero rating international services
- Find out and avoid the mistakes commonly made in applying zero-rating
- Learn how to establish whether the recovery of expense is a reimbursement or disbursement
- Be able to ascertain the agent-principal relationship, differentiate between reimbursement and disbursement, and ascertain the GST treatment for the recovery of expenses
- Learn to rightly determine and apply GST treatment to prevent costly penalties
Target Audience
- Finance Managers and Executives
- Accountants and Accounts Executive (involved with the preparation of GST returns or involved in the determination of the GST treatment for goods and/or services provided by their companies)
- Anyone involved in GST compliance
Expert Speaker
Catherine Chiang is a Senior Consultant (GST) in Consul Biz Consultancy Services. She has previously spent 6 years in the IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specialising in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance, GST audits and GST training for clients.
Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an ACTA certified Trainer