MALAYSIAN GST MECHANISM AND ITS IMPACT ON BUSINESS AND FINANCIAL PLANNING

Transcription

1 HRDF APPROVED SMETAP Programme Malaysian Export Academy (PSMB Registered Class A Training Provider - SBL Claimable) presents MALAYSIAN GST MECHANISM AND ITS IMPACT ON BUSINESS AND FINANCIAL PLANNING 4 & 5 September 2014, (Thurs & Fri), 9.00 am to 5.00pm, Holiday Villa Hotel, Subang Jaya SBL / HRDF Claimable Certificate of attendance awarded for those who complete the course Introduction GST a multi stage consumption tax to be levied on goods and services at all levels of business transactions. It will replace the current Sales Tax and Government Service Tax schedule to take place with effect from April 2015, with the bill schedule to go to Parliament in the next sitting to become law. The impact can be extensive to businesses and the solution is that we must be better prepare for its implementation and requirements. Taxable person is expected to start to file in their registration by the middle of this year. Learning Objectives 1. Help to understand the basic mechanisms of GST 2. Better prepared for the implementation to minimized the risk 3. Appreciate the concept on how GST will be implemented 4. Understand the various schemes available for GST Learning Benefits ENHANCING your skill and readiness for the implementation with effect from April 2015 INCREASE your understanding in the concept of and the mechanism of implementation of GST MASTER and APPRECIATE the transition period management from now till implementation date. STRENGTHEN your knowledge on the positive and negative effect on the market prices after GST s implementation. TIPPING POINT and SYMBIOSIS APPROACH of working with all stakeholders in the management of the GST implementation

2 LEARN the End In Mind First philosophy to improve and integrate the Thinking into Management and Actions. Who Should Attend? Directors, CEO, COO, General Managers, Managers and Executives CFO, Treasurers, Financial Controllers, Accountants Planners and Lecturers Entrepreneurs AND those aspire to be aware of GST mechanism and its effect on the prices after implementation. Workshop Content Fundamental and Scope of GST Imposition of GST Elimination of Sales and Service Tax Input and Output Tax and Input Tax Business and the 5 Test Rules Supply, Deem Supply and Gift Limitations Place, Time, Value and Consideration of supply Basic Tax and Actual Tax Point Standard and Zero Rated supply Exempt and Out of Scope Supplies Taxable person and Threshold Registration Threshold Determination and timeline for registration Mandatory and Voluntarily registration Transfer of Going Concerns Registration for: o Individuals, Sole proprietors and Limited Liability Companies o Group, partnership, branches & divisions o Joint Ventures, o Societies or similar organizations o Personal Representatives Single Taxable person registration for two business entities Pre-operating period and new project start up registration Registration Exemption and Cancellation Invoice and Record Keeping Tax and normal invoices Content of tax invoices Full and simplified tax invoices Debit and credit notes Record Keeping, Accounting Basisand Taxable period Invoicing for import services

3 GST returns monthly, quarterly Filing and Due dates for payment of excess of output over input tax. Input Tax claim limits on un-name recipient receipts Foreign currencies conversion Transition rules Effect of Sales Tax and Service Tax after repeal Effect of long term contract Reviewable and Non-Reviewable Registration before implementation date Supplies span before and after GST implementation Other supplies hire purchase, coin/tokens (such as parking machines) Special Refund Special Rules on Construction Input Tax Credit Mechanism and criteria to claim Allowable input tax and criteria to claim Blocked input tax Incidental exempt supply Input tax refund and repayments Claims in pre, post, late and de-registration and pre-incorporation stages Input tax on special transactions Refund of excess of input over output tax Special Schemes Approved Traders Approved Toll Manufacturers Drop Shipments Approved Jewelers Warehousing Second Hand goods Flat Rate Tourist Refund, etc. Others Declaration and payment of tax by non-gst register person for: o Bad debt relief and recovery o Imported Services o Local Receiver in approved toll manufacturing scheme o Agent acted as auctioneer Goods on consignments, Goods returns Warranties Enforcements Offence and penalties Power to assess Audit Anti Avoidance Rule

4 Methodology Participant will attend two days of lectures and interaction with the facilitator. Trainer's Profile Tan Kok Tee, was a Fellow member of the Association of International Accountants (FAIA), UK) and has a MBA-Finance from Charles Sturt University, Australia and a Gold Mastery Holder in Reinventing Strategic Planning and Management The System Thinking Approach from Haines Centre from Strategic Management, USA sponsor by University of San Diego, USA. He is also a Certified Trainer with PMSB s Train The Trainer Certificate, a life member with Malaysian Institute of Directors. Tan Kok Tee has got about 40 years of working experience at Financial, Strategic and General Management level. He has worked and been involved in numerous industries, including manufacturing, marketing and distribution, casino and services including Parking Operations. He has held a variety of leadership and senior management roles in various organizations, the last being Group Chief Executive Officer, Other positions in the past included Chief Financial Officer, Group Assets Management Manager, Business Process Management Consultant, General Manager and Senior General Manager in numerous companies along the way of his career in multinationals, local public listed companies as well as entrepreneur managed organizations. Tan Kok Tee has facilitated and conducted various training workshops since 2009 for both in house as well as public including from Malaysian Institute of Accountants and Chinese Chamber of Commerce. Mr. Tan has also developed an Entrepreneurship program specially for MBA students from GC University, Pakistan (one of the oldest University in Pakistan) in collaboration with Sunway Education Group and is now running into its 5 th year. He was also an assessor for the UTAR s NGO strategic planning program and an inviting speaker for the Asian Financial Controller s congress in 2009, 2010 & Mr. Tan has also completed a 10 days program conducted by the Royal Custom of Malaysia for GST Consultants. COURSE FEES & REGISTRATION You can register by completing the enclosed form and faxing it to RM 1,600 per person for 2 days - SBL Claimable (include morning & afternoon tea break, lunch, notes and certificate of attendance) Since this programme is approved under SMETAP, payment will be made by HRDF direct to organizer provided there is sufficient fund in your account. Please complete PSMB/STP/1/07 and fax it to along with the completed Registration Form.

5 CONTACT Malaysian Export Academy Sdn Bhd Suite 306, 2nd Floor, Block C, Glomac Business Centre Jalan SS6/1, Kelana Jaya, Petaling Jaya Selangor Tel: Fax: Contact Person: Shazwani shazwani@exportersclub.biz / exportersclub31@gmail.com

6 Malaysian Export Academy (PSMB Registered Class A Training Provider - SBL Claimable) presents MALAYSIAN GST MECHANISM AND ITS IMPACT ON BUSINESS AND FINANCIAL PLANNING 4 & 5 September 2014, (Thurs & Fri), 9.00 am to 5.00pm, Holiday Villa Hotel, Subang Jaya Registration Form Fax to (Attn: Shazwani) Company/Organization: Address: Telephone: Fax: Contact Person: Training Fees RM 1,600 per person for 2 days - SBL Claimable (include morning & afternoon tea break, lunch, notes and certificate of attendance) Since this programme is approved under SMETAP, payment will be made by HRDF direct to organizer provided there is sufficient fund in your account. Please complete PSMB/STP/1/07 and fax it to along with this completed Registration Form. Any cancellation within one (1) week before the event is not refundable. The management has the right to change the date / venue of the event with notice to be given in advance