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6224 2555
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Managing GST and Accounting
System Risks in Malaysia
Yes! Please register me for the workshop. (1314STE)
PAYMENT OPTIONS
Date : 14 November 2014
Time : 9.00am – 5.00pm
Venue: Hotel to be confirmed, Singapore
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S$449.40
S$513.60
S$577.80
Regular Fee
CCH Executive Events Corporate Member
CCH Subscriber/SIATP Member
Non-Subscriber
S$513.60
S$577.80
S$642.00
** Fee includes workshop materials, certificate of attendance
and refreshments
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DELEGATE’S DETAILS
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Delegate 1 (Mr/Ms)
In-house corporate training programme is also available!
For more details, please email [email protected]
Managing GST and
Accounting System
Risks in Malaysia
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Email
REGISTRATION INFORMATION
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Email
Website
Address
Delegate 2 (Mr/Ms)
6211 3935 / 6211 3939
6224 2555
[email protected]
www.cch.com.sg
8 Chang Charn Road
#03-00 Link (THM) Building
Singapore 159637
Job Title
Email
14 November 2014
9.00am – 5.00pm
Address
Registration and Confirmation
Reservations may be made by telephone/telefax/email. A confirmation email/letter
will be sent to you from CCH Asia Pte Limited to confirm your participation in the
event.
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Once your participation is confirmed, you will be required to make payment for the
event. Payments can be made by credit card or by cheque.
By Credit Card: Please fill in your credit card details in the “Payment Options”
section of the registration form to authorise the debit from your credit card.
By Cheque: All cheques should be crossed, marked A/C payee only and made
payable to “CCH Asia Pte Limited” with the title of the programme(s) indicated
clearly on the back of the cheques.
Substitution Policy
A substitute delegate is welcomed at any time and at no extra charge if you are
unable to attend. Notice of replacement must be made in writing via email or fax to
CCH Asia Pte Limited at least one (1) week before the event.
Cancellation
Full payment will be imposed if cancellation is made after 7 November 2014.
This also applies to no show on the day of event. In such cases, a complete set
of the course materials will be sent to you at no additional charge.
Programme Changes
CCH reserves the right to amend or cancel the events due to unforeseen
circumstances.
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1-19 300-499
20-49 50-99
more than 500
100-299
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CCH Executive Events
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SPONSORSHIP OPPORTUNITIES
CCH Asia has designed an attractive range of advertising & sponsorship packages to match your marketing objectives. The packages available offer advertisers and
sponsors extensive visibility and ensure direct access to your target market. They are also an excellent platform to promote your organisation to influential players and
key decision-makers in the industry. Please call 6211 3935 / 6211 3939 for more details.
THE ORGANISER
CCH Executive Events is the seminar and conference arm of CCH Asia. We offer opportunities for our delegates to receive business critical information and timely insights
and analysis from our expert presenters. Our events also provide a platform for discussion to allow delegates to explore the intricacies of the information presented while
interacting and exchanging news and experiences with their peers. Our programmes are conducted by industry practitioners and academics who are able to provide participants
a well-balanced blend of theoretical fundamentals and practical applications.
Qualifies fo
r
Productivit
y
and Innova
tion
Credit (PIC
) 60%
Cash Gran
t*
Managing GST and Accounting System Risks in Malaysia
14 November 2014
9.00am – 5.00pm
Malaysia’s Budget 2014 announced that Goods and
Services Tax (GST) will be introduced in Malaysia at the
rate of 6% with effect from 1 April 2015. The Goods and
Services Tax (GST) Bill 2014 was also passed on 7 April
2014 and the Goods and Services Tax Act 2014 (Act 762)
was gazetted by Malaysia government on 19 June 2014.
With the implementation of GST in Malaysia, the
Accounts and/or Finance Departments with oversight to
or who are taking care of the GST compliance for their
business operations in Malaysia will need to do more to
be GST compliant. Business transactions will need to
be correctly captured in a timely manner and based on
the time and value of supply. Accounting Systems will
also need to be compliant with Custom’s requirements.
These requirements are different and more complex
than Singapore’s.
Wolters Kluwer, CCH presents a workshop that
provides a practical examination of how to get GST and
Computerised Accounting Systems right in Malaysia to
lower the risk of penalty incurred as a result GST errors.
Understand the factors to consider when upgrading,
updating or modifying your accounting systems in
Malaysia to address GST requirements. Discover how
certain transactions can be classified systematically in the
accounting system.
This workshop also provides clarity to key areas of
concern such as how to realign business and accounting
processes to facilitate timely submission of GST returns.
Benefits of Attending
n Understand
how GST will impact the accounting
system of your business in Malaysia
n Master critical GST and accounting entries in accordance
to Malaysia’s requirements
n Manage accounting and complex GST adjustments
n Discover how to maintain proper GST documentation
including accounting records
n Learn how to prepare GST working file for GST Audit
Singapore
*Subject to conditions stipulated in the PIC scheme.
Please refer to IRAS website for more details.
Target Audience
Understanding GST in Malaysia
nOverview of GST in Malaysia
nHighlights of the key distinguishing features of GST
in Malaysia as compared to Singapore (including
special schemes such as Approved Traders Schemes,
Approved Toll Manufacturer’s Scheme, Flat Rate
Scheme, etc)
Critical GST and Accounting Concepts in Malaysia
nMFRS and PERS (MPERS from 1 Jan 2016) – financial
accounting versus GST accounting, understanding
the contentious areas
nRestrictions on claims for input tax
nGST impact on accounting entries and use of the 24
Customs recommended tax codes
nThe importance of getting tax codes right when
making accounting entries (a major pitfall of GST
inclusive and exclusive entries)
nExamples of transactions and accounting entries
(GST entries and relevant GST tax codes included)
nGenerating GST worksheets from GST accounting
systems:
– Standard rated, zero-rated and exempt supplies
– Other non-taxable supplies
– Local taxable purchases and imported taxable
purchases
– Taxable purchases – GST suspended
– Payable and receivables aging report for GST
– Debit and credit note summary
– Bad debts relief report
– Other worksheets to support the entries in GST
returns GST-03
nDealing with adjustments to GST
– Correction of errors made in GST Returns
– Changes due to errors in the description of supply
– Adjustments due to apportionment errors and
longer period adjustments for apportionment
– Adjustment for capital goods (capital assets),
and the various types of capital goods
adjustments
– Adjustment of transitional sales tax
claim on supplies spanning GST implementation
date
nRecommendations on the use of the optimum
number GST accounts to reduce GST reporting risks
(with illustrations)
GST Reporting Requirements in Malaysia
nGST analysis report and reconciliation with the
financial statements produced under MFRS, PERS
and MPERS
nGAF (GST Audit File) – contents of this file and
how it presents a trail of transactions (transactions
tracking) for Customs
nAccounting staff training: Important areas of
Customs Approved Accounting Software to focus on
nGST penalty provisions
GST Returns GST-03
nRequirements of GST Returns GST-03
nIdentifying and understanding the 15 critical fields in
GST-03
nUnderstanding how and where the data for the
various fields are obtained from financial accounting
records and how they are captured for GST-03
nAdjustments for Supplies Spanning GST –
transitional adjustments in GST-03
nCompletion and submission of GST returns GST-03
Impact on Accounting Systems and Cash Flows
nMore complex accounting for GST as a consequence
of Customs industry guides
nCash flow impact of GST in Malaysia
Computer Software – System Changes for GST
Compliance
nCustoms approved software to ensure GST
compliance and the production of GAF (GST Audit
File)
nComprehensive documentation for GST audits
nAdequate audit trails built into in Customs
Approved Software to assist Customs auditors in
understanding the flow of events and to reconstruct
the events, if necessary
Anyone who has business operations or dealings in
Malaysia.
n CEOs/CFOs n General Managers n Entrepreneurs
n Finance Managers n Finance Directors/Managers
n Accountants and Accounting Staff
J. Selvarajah
Senior Partner
ACA; CA (NZ); CPA(Aust); CA(M); ACTIM; FIPA(Aust);
B.Com (Acc).
J. Selvarajah is a senior partner of a well-established
professional practice in Kuala Lumpur which is a
member of an international network of accounting
and consulting firms with more than 300 partners
and professional staff. He has 43 years of work
experience in public practice particularly in the areas
of financial reporting for public and private entities,
corporate governance and risk assessment, audits,
company secretarial practice and fraud prevention.
He has assisted several Malaysian and international
companies and other organisations operating in
Malaysia and Singapore on Corporate Governance and
Financial Reporting requirements under Malaysian
and International corporate and financial reporting
frameworks. He is also an internal auditor for several
public listed companies in Bursa Malaysia. He has
performed several investigative audits on accounting
malpractices, embezzlement and money laundering. J.
Selvarajah delivers regular public seminars and training
on all IFRS, Financial Instruments, Corporate Tax
Planning and Corporate Taxation including the soon-tobe introduced GST, as well as on Fraud Detection and
Prevention. He is a member of the ICAEW, the New
Zealand Institute of Chartered Accountants, CPA(Aust),
MIA, and a member of the CTIM. He is also a PSMB
Certified Trainer.