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Description
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Generally, a GST-registered business is required to charge 7% GST on the supply of goods or services made in Singapore. However, the provision of international services and exports of goods can be zero-rated.
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.
0% GST can be charged for your supply of goods when you are certain that at the point of supply:
- The goods supplied will be exported or have been exported; and
- You have the required documents to support zero-rating
This topic is regarded as one of the more challenging areas of GST. Hence, this workshop will help provide in-depth insights on the essential issues and peculiarities of GST treatment on zero-rated supplies. By using practical examples and case studies, you will get a clear understanding on how to correctly apply zero-rating treatment to avoid common errors and costly penalties.
Programme Outline
Place of Supply
- Belonging concept
- Determining the belonging of Supplier and Customer
Zero-Rating of International Services
- 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
Zero-Rating of the Export of Goods
- Direct and Indirect Exports
- The 60-day Rule
- The various circumstances and documentary requirements for which a supply of goods can be zero-rated
- Situations where supplies of goods do not qualify for zero-rating
- Goods Hand-carried out of Singapore
- Examples and illustration
- Avoiding the mistakes commonly made in applying zero-rating
- Recent updates
Target Audience
Accountants and Tax Professionals dealing with the preparation of GST returns or involved in the determination of the GST treatment for goods and/or services provided by their companies.
Expert Speaker
Catherine Chiang
Catherine 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 Chartered Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an ACTA certified Trainer.