2 days workshop
INTRODUCTION
With effect from 1/6/2018, Minister Order on the rate of GST of 6% has been changed to 0%. The zero-rated order and various order have been repealed at the same time for paving the way for the re-introduction of Sales Tax and Service Tax. (SST).
This training seminar is therefore to help GST registered and NON-GST registered persons (as the threshold for SST registration is lower) to prepare and assist them in their management during this migration transition period and planning for their eventual migration from the current GST mechanism to that of the SST mechanism, with ease.
Course Objectives
By the end of this course you will be able to:
What is the difference between GST & SST?
What does this mean for my business?
What can I do?
Highlight the SST IMPLEMENTATION process
Preparing and addressing critical transition issues for businesses
METHODOLOGY
Group Discussion. Real-current GST & SST issues will be analyzed and scenario solutions will be discussed within the workshop.
WHO SHOULD ATTEND
Entrepreneurs, Bankers, Accountants, CFO, CEO, Business Managers, Finance Managers, Supervisors, and Managers
Special Feature: NOTE: Please bring laptop along
PROGRAMME OUTLINE
Day 1
Module 1: What is the difference between GST & SST?
Taxable Rate
Taxable period
Supply chain
Cash vs accrual system
Input tax
Module 2: SALES TAX -Overview
Proposed Legislation
Scope and Charge
Sales Tax Mechanism
Interpretation of Manufacture
Module 3: SALES TAX – Administrative & Rates
Taxable Person
Taxable Goods
Rate of Tax
Module 4: SALES TAX – Valuation, Returns & Payment
Sales Tax Valuation
Taxable Service
Registration
Returns / Payment
Module 5: SALES TAX – Exemption, facilities & Accounting
Exemption & Facilities
Special Rules
Accounting
Miscellaneous
Module 6: Discussion on Sales TAX 2018
Sales Tax
Registration for Sales Tax
Invoicing, Return and Payment
Transitional Issues
Day 2
Module 7: SERVICE TAX – Overview
Proposed Legislation
Scope and charge
Service tax mechanism
Module 8: SERVICE TAX – Taxable person & goods
Taxable person
Taxable goods
Rate
Taxable services
Module 9: SERVICE TAX – Registration, Returns & payment
Registration
Returns / Payment
Contra System Facility
Module 10: SERVICE TAX – Special rules & Accounting
Special rules for specific areas
Accounting
Miscellaneous
Module 11: Key differences between the previous Sales Tax Act 1972 & Service Tax Act 1975, with the Sales Tax Model 2018
Legislation
Registration Requirements
Determination of Turnover
SST Return
Late payment
Exemption and Facilities
Accounting
Designated Areas
Module 12: Discussion on Service TAX 2018
Service Tax
Registration for Service Tax
Invoicing, Return and Payment
Transitional Issue
Module 13: BUSINESS PREPARATION
Is SST would be applicable to my organization?
Price adjustments to be done
How about on-going contracts with vendors and customers?
How about new Contracts to be signed?
Advance billings & prepayments
Final GST Returns
Final GST Audits
Managing Income , costing & profitability
Dr Steven Liew is a fellow member of the Chartered Institute of Management Accountants, UK and is a Chartered Accountant by profession. He has an Asia Pacific Executive MBA (for senior executives) from the National University of Singapore and a PhD in international finance with Rushmore University of USA.
Dr Liew had worked in private sector companies, ranging from family-run businesses to professionally manage multi-national corporations in South Asia and the ASEAN region. He has accumulated more than 30 years working experience in senior financial & operational management positions spearheading the profitability and growth of companies. He has worked for the MBF Finance & its related group of companies over the 10 years’ period
He is a registered Trainer with the Government Human Resources Development Berhad (Pembangunan Sumber Manusia Berhad). And he is a GST Tax Consultant and had successfully completed the Custom examination
Dr Steven Liew had conducted various seminars for corporate clientele including Association of Credit Management Malaysia, Chartered Institute of Management Accountants, Malaysia Institute of Management, Malaysia Institute of Accountants, Institute of Bank Bank Malaysia, Nestle, IQPC Worldwide Pte Ltd , Singapore, Lexis Nexis,, Proton Edar Malaysia , Brunei Investment Agency, Small Medium Industries Development Corporation , Ministry of Development, Brunei , BICPA Asean Management, Brunei, Risda Group Of Companies, Sales & Marketing Training Forum, Sri Lanka, Giant Retail Sdn Bhd, Telekom Brunei & Ministry of Foreign Affairs, Malaysia, Sabah Electricity Sdn Bhd, Bank Islam Brunei Darussalam. Continental Tyres, Sime Darby Bhd, Sony Malaysia Sdn Bhd, Perodua Sdn Bhd & Credit Guarantee Corporation (M) Bhd; Fujixerox, UDA Holdings, SPNB, Diners Club, Elk Desa Capital Bhd, Antah Schindler, UCSI & Ministry of Finance; Seccom Sdn Bhd; Bridgestone Chemical Products (M) sdn Bhd; Dialog Group Bhd; SEDCO, KK; Hosiden Electronics (M) Sdn Bhd; STO Maldives; Indah Water Consortium Sdn Bhd; CPA Australia (M) Sdn Bhd
He is currently providing management consultancy and training specialising in GST, Forecasting, Fast closing monthly, leadership, Strategic Planning, budgeting, accounting, finance, Cost reduction, credit management & loan recovery.
Testimonials from Past Participants
“Very interactive with problem solving session “Eriks Sdn Bhd , Finance Manager
“The course objectives were clearly communicated. It was a timely especially for Service tax” Hotel Royal Kuala Lumpur, Financial Controller