Description

This is the AM session of our one-day workshop.

In the context of business-to-business (“B2B”) transactions, GST treatment by way of reverse charge mechanism needs to be applied on imported services effective 1 Jan 2020 and on imports of low value goods effective 1 Jan 2023.
This topical and timely practical workshop will provide an in-depth insight of the reverse charge regime and an understanding of the practical implications of taxing imported services and imports of low value goods, including rightly accounting for this in your GST reporting. It will also address the impact of the upcoming GST rate hike from 7% to 8% on imported services from 1 Jan 2023.

This unique workshop format offers you the choice to attend either the AM, PM or one-day session as two distinct GST topics are covered.

PM Session: Latest Update: GST Rate Transitional Rules 2023, click here.

One-day Session: GST Rate Transitional Rules 2023 & Reverse Charge Mechanism, click here.

By attending the one-day session, you get to enjoy greater savings and buffet lunch. Register NOW!

Programme Outline

AM Session: 9am-12.30pm

Imported Services

• Overseas Vendor Registration Regime
• Reverse Charge Mechanism

Imported Services by way of Reverse Charge

• Business-to-Business (B2B) transactions
• Reverse Charge mechanism
• Persons who would be subjected to reverse charge
• Scope of imported services
• GST treatment / Accounting for GST
• Transitional rules for rate change from 7% to 8%
• Reporting requirements

Import of Low-value goods from 1 Jan 2023

Q&A

What you will learn

• Gain a practical understanding of the reverse charge mechanism, its registration and compliance requirements
• Avoid costly penalties by ensuring compliance in taxing imported services by way of reverse charge
• Find out the impact of the GST transitional rules of rate change from 7% to 8% on imported services
• Be prepared to account for GST on imports for low value goods effective 1 Jan 2023

Target Audience

• Tax practitioners
• Finance practitioners
• Accountants
• Commercial Directors

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 Chartered Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an ACTA certified Trainer.