GST Input Tax: Practical Issues faced for goods/services unknowingly acquired from a fraudulent source (On Demand)


This webinar was recorded on 20 April 2020

The GST legislation provides that the price quoted for the supply of goods and services and the price paid by the purchaser must include the amount of the GST where applicable. As such, the gross proceeds collected by the supplier includes the amount of GST. The GST is collected on behalf of the taxation authority.

The purchaser of goods and services subject to the GST is, in many circumstances, able to obtain input tax credits for the GST included in the price of the goods and services acquired. Therefore, the price paid by the purchaser includes the GST that will be recovered from the taxation authority where an input tax credit can be claimed.

What will happen and what can you do when your goods or services are unknowingly acquired from a fraudulent or illegal source ? This webinar will address issues arising from the goods acquired from a fraudulent trader and will include case studies. It will also enhance your current knowledge of GST input tax claim. The session covers Singapore tax system & legislative framework and the treatment of a supply of goods.

Programme Outline

  • Imposition and extent of tax
  • Taxable supply
  • Taxable person
  • In the course or furtherance of any business
  • Liability of tax on supply of good
  • Credit for input tax against output tax – A case study

What you will learn

  • Understand the practical issues arising from goods acquired from a fraudulent trader.
  • Enhance your current knowledge of GST input tax claim

Target Audience

An Intermediate level programme intended for both Practising and Non-Practising Tax Accountants, Business Accountants and Auditors

Expert Speaker

Kevin Lee has a Master of Taxation from the Singapore University of Social Sciences ( SUSS ).

He was the Group Financial Controller with a foreign company for many years and he has more than 10 years of experience in financial reporting, audit, tax, treasury and corporate advisory in various industries, including internationally well-known hotel chain, marine (including oil and gas) and supply chain management, logistics and transportation and heavy machinery industries that cover South East Asia and Australia.

Kevin’s forte is designing defensible and sound economics-based tax strategies (including GST) that are from the compliance, finance, risk governance and accounting perspectives, i.e. enterprise tax risk management. He is also a Subject-Matter Expert (advisory) for "CCH Integrator" Singapore GST compliance reporting programme and IFRS Compliance Framework report automation project. 

  • Elearning
    • $160.50 20% Discount on On-Demand Webinars - Apply Promotional Code: OEC20 $128.40incl. GST (7%)
    • PD hours: 1.5
    Complete online at your own pace (Self-paced)
    • $160.50 20% Discount on On-Demand Webinars - Apply Promotional Code: OEC20 $128.40incl. GST (7%)

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