Description

This is the PM session of our ONE-DAY workshop.

Understanding the differences between reimbursements and disbursements is essential as they are treated very differently for GST reporting purposes. The incorrect treatment could result in underpayment of GST and possible imposition of penalties.

This practical workshop will help reinforce your understanding on the GST treatment of reimbursement and disbursement. With the use of practical scenarios, exercises and case studies, you will learn how to determine the right treatment of GST for the recovery of expenses.

Programme Outline

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

One-day Session: GST Treatment on International Services & 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:

• 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
• Minimise the possibility of costly penalties by ensuring the accuracy of your GST recovery of expenses/claims

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