Our Program

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GST TRAINING FOR ACCOUNTS DEPARTMENT

Date : 14th & 15th June 2017
Time : 9:00 am To 5:00 pm
Venue : Armada Hotel, Petaling Jaya
Speaker : Mr. Goh Kean Hoe

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As a registered person, your responsibilities include :

  • Charging and Accounting for GST
  • Issuing Tax Invoices
  • Keeping proper records
  • Displaying price that is GST inclusive
  • Filing of GST return and payment of GST on time

On the other hand, you are eligible to claim input tax credit in respect of the taxable supply made if conditions are fulfilled.

Unlike income tax which is based on profit made, GST is a transaction based tax. Almost every transaction, whether it is a regular or a special transaction, will have GST implication. Even transaction with no consideration may have GST effect. Different industries may have special GST rules. These transactions will eventually be captured in accounting system and records which form the primary basis for the preparation of GST return to be filed either monthly or quarterly. Accounts department therefore plays a crucial role to ensure the GST laws and rules are being complied and the GST treatment and reporting are correct.

In preparing for the implementation of GST, the accounting system and procedures must be set up correctly and the accounting treatment and entries must be correct. A strong understanding of the key GST rules and the Tax Codes proposed by the Customs will be the foundation to the successful implementation of GST accounting and this will lead to a better compliance of GST laws as well as more efficient management of GST issues to avoid costly mistakes and penalties and to be ready for GST Audit by the Customs.

The objective of this workshop is to train the accounts departments of registered businesses on the following areas:

  • Review of the scope of GST and type of GST supplies
  • Review Key GST rules
  • Review of input tax claims rules
  • Review and analyses the 23 Tax Codes and know when to use them
  • Understanding the correct or preferred accounting treatment and entries on GST related items
  • Review of the GST 03 Return with regard to the amounts to be declared and its link to the Tax Codes
  • Understanding what adjustments, review, analysis and reconciliation that need to be done before the GST return is considered ready for filing

To guide the Accounts Department to comply with the GST lawsand rules and to account for GST and to file GST return correctly

Day 1

  1. Scope of Malaysia GST and Types of Supply
  2. Registration for GST, Taxable Person and Taxable Period
  3. Input tax credit, blocked input tax and De Minimis rule
  4. Determining your company’s GST profile(goods or services, type of supplies made, output and input tax pattern, filing requirement and risk areas)
  5. The 23 Tax Codes
  6. Effect on general ledger, accounting treatment and income tax treatment for GST input and output tax
  7. The sales and the tax invoice/CN/DN and time of supply (21 day rules)
  8. GST on international trade –
    • export and import of goods
    • international services and imported services
  9. Other income and incidental financial services income

Day 2

  1. Principal/Agent and Reimbursements/disbursements
  2. Claiming input tax on purchases and expenses and 6 months adjustment
  3. Property related transactions – sales/purchase, rental income/expense
  4. Motor vehicle treatment
  5. Gifts, entertainment expenses, employee benefits and staff claims
  6. Claiming bad debt relief and accounting treatment
  7. GST return filing, refund, payment, amendment and penalties
  8. GST return – link to tax codes and completing the information
  9. GST return and report review, reconciliation and analysis.

Goh Kean Hoe is an approved company auditor and a licensed tax agent with past and present clients that include PLCs, MNCs, SMEs, and entrepreneurs. Previously an audit manager with a Big Four Accounting Firm and a company financial controller, he has wide exposure in many fields over the past 20 years including the property sector and international assignments. His biggest strength is his technical knowledge and analytical skill. He has published articles on deferred taxation and property development accounting in the national journal and newspapers.

Kean Hoe holds a Bachelor of Accounting from the University of Malaya. He is a member of MIA, MICPA and CTIM. He currently sits on the Tax Practice Committee and GST Working Group of the MICPA. He was the Honorary Treasurer of Malaysia Economic Association (MEA) and a trustee for its foundation for 6 years. He has conducted numerous seminars and workshops on financial and accounting related subjects.

In preparing for GST implementation in Malaysia, Kean Hoe has been working closely with GST Academy Singapore since 2010 to develop GST training programmes for Malaysia and to provide GST consulting services. He has successfully completed the 10 day course conducted by the Royal Customs of Malaysia for GST consultants and agents and is an approved GST tax agent licensed by MOF. He was involved in a number of GST implementation projects in 2014/2015 and is currently a GST consultant to a few companies.

Seminar Particular

Organisation Particular

Are you a Globalacc Corporate Member or Globalacc Practitioner Member ?

Yes
No
Name (full name) Position Request for vegetarian food?

Payment Particular

Note :

  • All payment shall be made to Globalacc Research & Training Sdn Bhd.
  • Advanced payment is required to secure the seats.

You may bank-in the cheque or transfer to our bank account as follows:

Banker : Public Bank Berhad

Account No. : 313 968 4822

Please email the bank-in slip / transaction slip to globalaccrt@gmail.com for our record and reference in order for us to issue an official receipt.



Notes :

  • Registration will be accepted subject to availability of seats on first come first served basis and receipt of payment in advance.
  • Confirmation of registration and Tax Invoice will be issued in due course.
  • The organizer reserves the right to cancel the event and any payment made shall be refunded in full if the event is subsequently cancelled.
  • Certificate of Attendance will be issued. CPE hour for members of professional bodies is subject to verification and approval of the respective bodies.
  • Application to HRDF for claims is subject to approval by the relevant authority.

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