Choong Research
& Training PLT
1 . 4 . 2015
5 months away
READY
for GST ?
GST
GST Master Class: Hands-on
Practical GST Compliance Sessions
4th Class
Date:
1 - 4-Dec
9.00am
7.00pm2014
(Monday to Thursday)
Time:
9 Sessions
9.00am to 5.00pm:
Course time
5.00pm to 7.00pm:
Tutorial + Revision
Location:
Kuala Lumpur
* for commercial firms only
Goods and Services Tax (GST) is operative on 1 April
2015. Business operators are at risk as they are entrusted
with onerous responsibilities by the GST Act 2014 to impose
and collect GST from customers and then account the GST
collected to the Royal Malaysian Customs (RMC). The GST
amount remitted to RMC has to be accurate and on time.
Penalties will be imposed for non-compliance with the Act.
Key employees are the frontliners to prepare tax invoices, to
claim input tax deduction on business purchases, record
transactions via GST compliance software and are entrusted
with the responsibilities to submit GST return (Form GST-03)
and payment of GST.
These 8 sessions are COMPLETE and COMPREHENSIVE.
It aims to impart practical knowledge and skills on the
methodology, concept and mechanism of GST. Many
working examples and practical illustrations are employed
for easy understanding. It is personally guided by the
Malaysian leading GST specialist, Dr Choong Kwai Fatt.
The GST MASTER CLASS will guide you,
imparting skill and experience on GST compliance.
SESSION 1
Concept & methodology
- Application of GST in daily operations
- GST fundamental and unique features
- Input/Output mechanism
- Taxable period (3 months/1 month)
- Invoice types & issuance procedures
- Credit & debit notes application
- Analysis of GST rates (6%,0% or exempt)
- GST registration in the forms of sole proprietorship,
partnership, limited liability partnership(LLP), Sdn
Bhd, branch/divisional
SESSION 2
Import/Export rules: Goods & Services
Input tax calculation & documentation
Pricing as GST inclusive
- computation, preparation & display mode
Market value methodology and application
GST and relationship with withholding tax
Stock count & documentation
- stock lost, written off/written down
Essential GST accounting entries on business
transactions
The rules of input tax A/C, output tax A/C,
control A/C, blocked input tax A/C
Supply
- The meaning of supply, scope of supply, mixed
supply and deemed supply
- Time of supply
- Value of supply & open market value computation
- Related-party transaction on valuation concept
Practical exercise on
(i) tax invoice, credit/debit notes designing
(ii) pricing setting
(ii) computation of GST
(iv) online registration via Taxpayer Access Point(TAP)
SESSION 3
Rental income & GST
Intercompany rental: issue of market value
or in-house value
Payment of salary vs manpower services
Payment on behalf of related company
- the use of debit/credit notes
- disbursement/reimbursement
Withdrawal stocks for own use
Group registration
- be or not to be
SESSION 5
SESSION 4
Bad debts on GST vs Income tax
Deposits
Sales promotion related expenses
- petrol, repair & maintenance, insurance
- entertainment, traveling
Discounts
Leasing vs Hire Purchase
Intercompany loans, advance to directors
Employees benefits & gift rule
SESSION 6
Transitional provisions on
- special tax refund on trading stock on hand
- bad debts
- plant, machinery & office equipments
- contract: reviewable/non-reviewable
Application of advance ruling & procedures
Review & appeal procedures on penalties
Hands-on appeal
GST software: essential computer features
- 14 tax codes & GAF files
- mapping for audit purposes
- return & compliance
Preparation of GST return
- hands-on guide
GST payment & refund claiming on GST paid
GST documentation
- how to carry out book recording
- GST analysis report
- GST reconciliation for errors
Noting points on parallel run of GST system
Penalties & offences
- non registration
- non/late submission of return
- incorrect return
- mistake or error relief
- record keeping
- time barred assessment
The scope & meaning of a “good accounting
system” required by RMC
4 Days 9 Sessions
SESSION 7
Practical GST Implementation on
Manufacturing
GST planning on
- Approved Trader Scheme (ATS)
- Approved Toll Manufacturing Scheme (ATMS)
- Warehousing Scheme (WS)
SESSION 8
Practical GST Implementation on
Retailing
- Tie in goods
- Loyalty points
- Monetary vouchers
(cash vouchers, money-off coupons, stamps)
- Non-monetary vouchers
(token)
- Purchase with purchase
- Samples/Tester
- Sales target incentive
- Sales rebate
SESSION 9
Practical GST Implementation on
Second hand car dealer
- Margin Scheme
Contentious implementation issues on
Various service industries
Faster
grab
the seats!
The Speaker’s
Profile
Choong Kwai Fatt, PhD
is a leading tax consultant and tax
specialist, having articleship for Certified
Public Accountant (CPA) with the Malaysian
Institute Certified Public Accountants (MICPA) and
PricewaterhouseCoopers as an auditor, then a tax
consultant in Pricewaterhouse Tax Services Sdn Bhd.
He is currently practising as an advocate and
solicitor, in his firm ‘Kwai Fatt & Associates’.
Dr Choong researches extensively on tax laws and
specialises in tax audits, tax appeal, transfer pricing
and GST related matters. In 2005, he was appointed
by the former Ministry of Finance as one of the eight
members of Tax Review Panel Board to study the
formulation of GST in Malaysia.
Dr Choong has obtained both professional
accounting and legal qualification. He is a Certified
Chartered Accountant in UK (ACCA), Chartered
Accountant in Australia (ICAA), Chartered
Accountant in England & Wales (ICAEW), Chartered
Accountants in Malaysia (MIA), Certified Public
Accountant in Malaysia (MICPA), Certified Practising
Accountant in Australia (CPA, Australia) and
Certified General Accountant in Canada (CGA). He
studied accounting at the University of Malaya
and later studied law at the University of
London, and at the International Islamic
University
Malaysia for his
doctoral
study. He was
then called
to the bar as
an advocate
and solicitor
in Malaysia.
Exclusive for Participants
√ Practical tutorial case studies
√ Essential notes & studying materials
√ Sharing of GST skills
√ Books worth RM600++ !!
Dr Choong Kwa Fatt
Advocate & Solicitor
GST Consultant
ion to
Attent
ses!!
s
o
B
tors &
Direc
Business on FIRE!!
This complete GST class is a MUST for KEY employees of your companies because:
√ 100% practical on works
√ Business risk will be substantially reduced if GST risk is eliminated.
√ Key features on imparting practical skills
(a) designing tax invoice
(b) issuing tax invoice or non tax invoice
(c) claiming input tax
(d) identify non deductible input tax
(e) importing goods/services
(f ) recording GST transactions
(g) submitting GST return/amended return
(h) procedures to claim
- special tax refund on stock in hand on 31.3.2015
- tax refund
- submit appeal on penalty
(i) GST documentation
(j) Advanced ruling applications & procedures
* GST efficiency lies on investment on human asset.
Register
NOW!!
Course fee
RM3,800/pax
Early Bird Promotion
(Register before 7 November 2014)
Individual :
RM3,200/pax
Company Group :
5 persons & above* RM2,600/pax
* subject to single receipt
√ Income tax deductible
√ Guided by Malaysian leading GST specialist
For registration or enquiry, please email to [email protected]
or contact Kim at 010-288 2846 / Hui Yan at 012-615 3190