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The first wave of GST changes started in January 2019, with Customer accounting being implemented on the supply of certain prescribed goods by GST-registered suppliers to their GST-registered customers.

The next wave will take effect from 1st of January 2020, with GST being applied on imported service in the context of business-to-business (“B2B”) transactions by way of a reverse charge mechanism. The taxation of business-to-consumer (“B2C”) transactions will take effect through an Overseas Vendor Registration (“OVR”) mode.

It is critical that organisations understand the impact of these changes to ensure that their staff and systems are well-equipped to comply with the new requirements. This workshop will give you a good understanding on the features of the customer accounting, reverse charge mechanism and the related registration and compliance rules.

This comprehensive workshop is designed specifically to provide you with a practical update on the recent and upcoming GST changes. Practical tips and pointers will be discussed to help your organisation make a seamless transition to implement the GST changes.

What you will learn

At the end of this workshop, you will:

  • Be updated on the recent GST Developments
  • Understand the implications of Customer Accounting, and learn how to correctly apply the GST Treatment
  • Have a good understanding of the Reverse Charge mechanism, its registration and compliance requirements 
  • Understand the features of the overseas vendor registration regime, and the related GST registration and reporting rules

Programme Outline

1. Summary of 2019 Updates/Developments

2. Key Updates pertaining to GST in Budget 2020

3. Customer Accounting for Prescribed Goods

  • What is customer accounting?
  • What are the prescribed goods?
  • What is excepted supply?
  • Common business scenarios
  • GST treatment / reporting

- GST-registered supplier making a relevant supply

- GST-registered customer receiving a relevant supply

  • Some Common Errors found so far

4. Taxing Imported Services by way of an Overseas Vendor Registration Regime

  • Business to Consumer (B2C) supplies of digital services
  • Scope of digital services
  • When is operator of electronic marketplace regarded as the supplier?
  • GST registration requirements for overseas suppliers and overseas electronic marketplace

- Simplified Pay-only Registration Regime

5. Reverse Charge Mechanism

  • Who is affected by reverse charge on imported services
  • How reverse charge works and its impact on partial exempt businesses
  • Types of services subject to reverse charge
  • Transitional Rules
  • Registration and reporting requirements
  • Impact on inter-branch and intra-GST group transactions
  • Practical challenges faced by organisations in accounting for reverse charge

Target Audience

  • Finance Managers and Executives
  • Accountants and Accounts Executive (involved with the preparation of GST returns)
  • 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 Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an ACTA certified Trainer.

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