Essentials of Goods & Services Tax

22 October 2008

The Holiday Inn The Atrium

This workshop is scheduled to re-run on 22 Oct and 19 Nov 2008.

GST - a simple tax? Probably not, if you consider that the IRAS collected $51.6 million from GST audits for FY2006/07+. The increase in the GST rate from 5 per cent to 7 per cent on 1 July 2007 will also mean that GST errors can become significantly more costly.

As the IRAS steps up their audit activities and the use of technology to help with audits, it is critical to ensure that the company understands and applies the correct GST rules to its transactions to mitigate the exposure to penalties.

To help you better understand and equip you with a working knowledge of GST, we present below our popular series of one-day workshops on GST.

⁺Source: IRAS Annual Report 2007

Workshops on The Essentials of Goods & Services Tax
The workshops will focus on the practical application of the tax and the risk areas often reviewed by the IRAS. The workshops will provide an opportunity for the participants to discuss their practical situations.

Course Outline

• The different types of supplies
• Fringe benefits
• Time, place and value of supply
• Reimbursements & disbursements
• Export of goods and international services
• GST offences and penalties
• Input tax recovery rules