Managing GST Risk and Detection

GST has already been implemented for more than 20 years in Singapore and millions of dollars have been collected from GST penalties. In year 2016 a total of 211 million dollars has been collected from GST audit out of 3201 cases. As for Malaysia, Customs generated 1.5 billion fees arising from penalties in year 2016. Faced with an increased risk for business to be GST compliant, there is an urgent need to examine and understand GST issues that may be incorrectly treated or overlooked altogether by every GST registered business.

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We have specially designed this workshop to:

• Provide a clear understanding of the difference between GST and Accounting

• Manage GST Risk

• Provide a clear insight on how to be GST compliant and understand what is a good GST accounting system  

• Clear your doubts and equip you with skills to resolve GST uncertainties and prepare for GST Audit.

Programme Outline

Day 1

Session 1: Understanding the difference between Supplies for Accounting and GST

Session 2: Difference between Manual Accounting System and Computerized Accounting System

Session 3: Understanding Accounting and GST Process and the difference between cash and credit transactions

Session 4: Understanding how GST affects financial accounts

Day 2

Session 5: GST Documentation and record keeping

Session 6:  Identify common mistakes found in GST Audit

Session 7: GST Audit and reconciliation

Session 8: Preparation of GST return and introduction of GST Tax Codes

Who Should Attend

• Tax and Accounting professionals

• Staff involved in GST compliance work

• Non-tax professionals who want to understand GST submission and preparation in Singapore

Methodology

Lecture style, with Case Studies and Examples

About the Facilitator: Dr Robin Chia

Dr Robin Chia is currently a Professional Accountant in Malaysia, Singapore, Australia and United Kingdom. He is also Managing Director of Robin Chia PAC, a Public Accounting Corporation based in Singapore and Adjunct Professor in few Chinese Universities and a Provincial Business Ambassador in the Republic of China. He specializes in tax and GST and possesses vast experience in dealing with the tax authorities over GST issues, rulings, audit and investigations on behalf of his clients. He also acts as an adviser of an IT and Business Consultancy Company specializing in ERP and Computerized Accounting System and also pioneered in reforming GST Ready Accounting System which is approved by Royal Customs Malaysia.

Dr Robin Chia is a frequent guest speaker for many professional bodies within South East Asia and has also done extensive research on Accounting and Auditing Standards, Goods and Services Tax, Risk Management and Internal Audit, Corporate Fraud and Forensic Accounting. He has also been invited to speak with the government and other institutions in Singapore, Malaysia, China, Hong Kong and Vietnam and has conducted numerous external trainings, seminars and workshops since year 1996. He has undertaken numerous GST implementations for large and small enterprises and is currently advising large companies in Malaysia on the managing of GST audit. He is also currently the Chairman and GST Technical Advisor for RCCM GST Network in Malaysia whose members are either professional accountants in public or private sectors.