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Mastering the Basic & Intermediate Concepts of GST
Goods and Services Tax (GST) is National Tax collection for good import into Singapore as well as for local goods & Services consumption. Since the 90s, GST has been one of the main source of National Revenue for Nation Building. This Policy will be adjusted in term of percentage in near future and it is of paramount importance for Adult learners to understand the implication both from Individual and Corporate perspective.
Objective
Upon completion of this workshop, participants will be able to:
- Understand GST concept
- Apply the concept for charging GST on Sales
- Apply the concept for charging GST on Other Transactions
- Apply the concept for claiming GST on Business Purchases and Imports
- Apply the concept of Price Display, Invoicing and Record-keeping
- e-Filing GST returns and Correcting Mistakes
- Know the Penalties and Recovery Actions
- Know Tips on Compliance
Outline
- GST and My Responsibilities
- Charging GST on Sales
- Charging GST on Other Transactions
- Claiming GST on Business Purchases and Imports
- Price Display, Invoicing and Record-keeping
- e-Filing GST returns and Correcting Mistakes
- Penalties and Recovery Actions
- Tips on Compliance
- Notifying of Changes to Business and Cancelling GST Registration
- Where to Get Help
Who should attend
Individual whom deal with GST compliance in the business environment. Business Owners operating in this competitive era with principal consideration for GST as part of its competitiveness applicable to its internal and external stakeholders.
Profile of Lawrence Poh
CA(Singapore), ATP(GST), CSP, ACTA, MAJ(NS)
Lawrence's passion in life revolves around teaching. In his years of corporate experiences, his belief is to anchor on nurturing those working professionals with EAR elements i.e. Energetic, Attentive, Receptive. Having mastered teaching-centric courses such as Train the Trainer, Method of Instruction and Learning Organization, Lawrence firmly believes in applying these methodologies during his lessons. End state in mind is to meet the learning objectives and more importantly to have fun. This can be achieved by having a conducive learning environment (reinforced with real life examples) which enables each participant to internalize most out of the lesson duration.
Lawrence is a full member of Institute of Singapore Chartered Accountants (ISCA) and Singapore Institute of Accredited Tax Professionals (SIATP). He is also a Qualified Individual approved by Singapore Accounting and Corporate Regulatory Authority (ACRA). He holds a Master of Accountancy from Victoria University, Australia and an Honours degree in Banking & Finance from University of London. He is also a Senior Army Officer (NS) who graduated from the former Singapore Command & Staff College.
Lawrence has more than 20 years of experience in accounting, audit, international tax, corporate finance, financial markets, company secretarial, ERP & Balanced Scorecard (BSC) system implementation and transformational leadership. He had assumed auditing, finance and accounting positions in Public Accounting Firms, Ministry of Defense and Process & Discrete Manufacturing Companies.
