SALES TAX 2.0 AND SERVICE TAX 2.0 COMPLIANCE PROCEDURES GUIDE (LATEST UPDATES AND DEVELOPMENTS)
By Mr. Kenneth Tam
26 August 2019, 9:00 am to 5:00 pm
Kuala Lumpur
(100% Claimable From HRDF/PSMB)
INTRODUCTION:

Having been implemented on 1 September 2018, the Sales & Service Tax (SST) regime has undergone amendments . The objective of this workshop is to provide participant with a understand the scope and mechanism of SST together with the implementation challenges faced in its implementation . This , together with the implementation issues require finance personnel to get up-to-date with the necessary knowledge to ensure compliance.

The trainer will also present the latest on- going announcements to help business entrepreneur and account preparer to have a better understanding on the practical aspects of post implementation and the developments of the SST

COURSE OBJECTIVES:
This program will assist you on the following areas:
  • Understand the Sales Tax and Service Tax framework : industry, scope of tax, reporting requirements.
  • Get updated on the Sales Tax exemption and be familiarized with the Rule of Valuation, refund of Sales Tax, Sales Tax deduction facilities, drawback facilities and its eligibility and its remission
  • Understand submission process of SST-02 returns and time frame for submission, payment and penalty
  • Comprehend the special rules for Designated areas and Special area treatment
  • Be familiarized with an important guide for the service industry
  • Inter-company management services and definition of group companies
  • New Taxable Service with effect from 1 March 2019
  • Professional Services : Reimbursement and Disbursement
WHO SHOULD ATTEND:

Manufacturer, Importers and Exporter, Finance and Accounting Staff, Business Owner, Accountant, Company Secretaries

Duration

7 Hours, 1 Day.

COURSE OUTLINES :-
  1. SALES TAX 2.0
    • Sales Tax Framework
    • Meaning of manufacture
    • Rate of tax and implementation details
    • Valuation of taxable goods and imported goods
  2. EXEMPTION FACILITIES UNDER THE SALES TAX REGULATION AND ORDERS
    • Special rules on Sales Tax exemption and facilities
    • New sales tax exemption procedures-schedule A, B, and C inclusive C1 –
    • MySST portal to apply exemption and exemption certificate
    • Special Provision relating to Designated Area (DA) and Special Area (SA)
    • Bad debt relief to be claimed after sales tax
    • Bad debt recovered to be received after sales tax
    • Drawback Facilities and eligibility for drawback
  3. PREPARING SST-02 RETURN
    • Accounting Basis, sales invoice, credit and debit note
    • Recordkeeping and offence for late submission of return and payment of sales tax due
    • Method and time of payment
    • Payment by Instalments
    • System readiness-capturing and reporting SST compliance
  4. SERVICE TAX 2018
    • Service tax mechanism and rate of tax
    • Threshold for taxable services and payment basis
    • Treatment for services supplies within, to/from Designated area (DA) and Special Area (SA)
    • Inter-company management services
    • Services provided by a member of the group of companies to company outside the group
    • Reimbursement and Disbursement
  5. NEW TAXABLE SERVICES WITH EFFECT FROM 1 JANUARY AND 1 MARCH 2019
    • Taxable Imported Service
    • Training Services
    • Cleaning Services
    • Amusement park services
    • Brokerage and underwriting services
  6. AMENDMENTS TO SST INDUSTRY GUIDE
    • Professional Services including business to business exemption
    • Information Technology Services (IT)
    • Other service provider
    • F & B business
    • Consultancy and Management Services
    • Custom Agency Services
    • Employment Services
Your Trainer

Mr. Kenneth Tam is a trainer cum consultant. He has over 30 years of corporate experience in the field of financial management, financial accounting , tax , business planning and budgeting .He had wide , extensive and hand-on experience in various industries which include oil and gas( upstream and downstream) , manufacturing, trading ,project management and education. From 1980 to 2008 he held various managerial positions in a Global oil and gas group of companies, one of the Fortune 500 companies.

Kenneth Tam is a Fellow member of the Association of Certified Chartered Accountants UK (FCCA), Associate member of the Chartered Institute of Management Accountants UK (ACMA), member of the Charted Global Management Accountant (CGMA), a member of the Malaysian Institute of Accountants (MIA). He also obtained a certificate IV in assessment and workplace training from Australia and approved certified trainer from PSMB.

Course Fee
(Course fee is inclusive of 2 tea breaks, lunch, course material,Certificate of Attendance)
1 person ~ RM 848 / pax
2 persons or more ~ RM 742 / pax
(Course fee is inclusive of 2 tea breaks, lunch, course material, Certificate of Attendance and 6 % Service Tax )
Terms & Conditions:
1. Registration & Fees Policy
Registration is confirmed once registration form is received via fax/email/mail. All Payments/Undertaking Letters/Local Order (LO)/Letter of Approval must be made available and presented prior to the course.
2. Cancellation Policy
Any cancellation must be received in writing within 5 working days prior to the event else 30% payment will be imposed. Any no-show by registered delegates will be liable for full payment of the program fees.
3. Disclaimer & Program Changes Policy
Scientia Training Sdn Bhd reserves the right to amend or cancel the event due to circumstances beyond its control. We reserved the right to modify the advertised topics or course timing whenever necessary.
Registration:
1. Fax 03-6207 6727
       OR
3. Payment shall be made payable to SCIENTIA TRAINING SDN BHD
Contact Us:
Scientia Training Sdn. Bhd. (1001247-U)
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