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Description

This is a one-day workshop covering two distinct GST topics: Reverse Charge Mechanism in the morning (AM) and GST Transitional Rules 2023 in the afternoon (PM)

This topical and timely practical workshop will explain and address the implications of the latest GST rate transitional rules from 7% to 8% effective on Jan 1, 2023. It will also prepare GST registered businesses (GRBs) on how to account for and manage the transition of the GST rate hike. Additionally, the practical implications of taxing imported services and imports of low value goods by way of reverse charge mechanism for business-to-business transactions will be addressed.

This unique workshop format offers you the option to attend either the AM or PM session.

AM Session: Reverse Charge Mechanism: GST on Imported Services & Import of Low Value Goods, click here.

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

By attending the one-day session, you get to enjoy greater savings and buffet lunch will be provided. 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

PM Session: 1.30pm-5pm
Transitional Rules for Rate Change from 7% to 8%

• Invoice is issued on/after 1 January 2023
• Invoice is issued before 1 January 2023
• Special situations

Preparation Checklist

Frequently Asked Questions (FAQ) 

Q&A

What you will learn

• Gain a practical understanding of the latest GST rate transitional rules
• Find out the impact of the GST increase from 7% to 8% effective 1 Jan 2023 on your business
• Learn how to account for and manage the GST hike
• 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 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.