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Mastering Sales Tax Exemption and Its Treatment of Scraps

Date & Time:
25 August 2020 Tuesday | 2.00 pm - 6.00 pm
Venue: Join us from your home / office and be trained in our Virtual Classroom

INTRODUCTION

Sales Tax since its implementation from 1/9/2018 has gone through various updates via Legislations and Policies. Requirements like Recipient Self Accounting for Imported Taxable Services, Sales Tax Credit Systems (formerly known under CJ(P)3), further expansion of Person Exempted from Paying Sales Tax, Revised procedures for sales tax exemption application for purchase from traders, Record Keeping and periodical returns, etc., calls for all Registered and Non-Registered Manufacturers to be fully aware of what are the latest requirements to be complied.

Registered Manufacturers (RM) are entitled to apply for sales tax exemption under the Person Exempted from Paying Sales Tax Order and be eligible to purchase taxable manufacturing inputs materials such as raw materials, components, packing materials and manufacturing aids, free from sales tax when purchased directly from other registered manufacturer or through a third party or import or sub-contract to another RM to partly finished the manufacturing process. These exemptions are subject to certain conditions. Any BREACH of these conditions will be subject to Recovery of Sales Tax, Penalty and Compound by RMCD.

Furthermore, various inventory movement reports also need to be prepared and kept quarterly and other reports need to be furnished to RMCD periodically. Failure to do so may result in the withdrawal of the exemption facilities, penalty and compounds.

COURSE OBJECTIVES

  • Understand how to manage the overall Sales Tax exemption concept and facilities to avoid the breaching of terms and conditions.
  • Know what new records need to be kept and reports need to be submitted periodically.
  • Understand the appropriate Sales Tax implementation know how according to Updated Legislations and Customs Policies that happen from time to time.
  • OUTLINES
    Title Topic
    1. FUNDAMENTAL AND SCOPE OF SALES TAX
      i.General Scope of Sales Tax
      ii.Treatment of goods given out for free.
    2. SALES TAX MECHANISM AND ITS EXEMPTION FACILITIES
      i. 2018 Sales Tax Model
      ii. Types of exemptions orders:
      • Goods exempted from charging sales tax order
      • Persons exempted from paying sales tax order.
      iii. Record Keeping and Reporting requirements for Exempted Goods Purchased / Imported under:
      • Schedule C1 to C5,
      • Schedule B item 1-4
      • Schedule A item 55
      • Schedule A item 57.
      • Breach of exemption conditions return.
      iv. Sales Tax Credit Systems.
      v. Drawback facilities.
      vi. Summary of how does Sales Tax and its Exemption available to different parties, like importers, Exporters, Manufacturers, Governments, Individuals, etc.
      vii. Sales Tax treatment for import and goods movement to and from:
      • Designated Areas definition and implications
      • Special Areas definition and implications
      viii. Import Services and its filing of returns and payment of the service tax by non-service tax registered person.

    TRAINER’S PROFILE

    Tan Kok Tee has over 40 years of experience in financial, strategic and general management. He has held a variety of leadership and senior management roles in various organizations, the last being Group Chief Executive Officer. More than half of this time are spend in the Manufacturing Marketing & Distribution and services organization, including those with the then Inchcape Timuran Berhad, Metroplex Berhad, Perdana Industries Berhad.

    He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants, Aust.; Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries, holds a MBA in Finance from Charles Sturt University, Australia and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

    He is also a Certified Trainer with PMSB’s Train The Trainer Certificate since 2009 and a life member with the Malaysian Institute of Directors. Kok Tee has been involved in training and facilitation since beginning 2009. To-date he had conducted about 300 training workshops, of which more about 200 are on GST including GST Accounting for both in-house as well as public, including for Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, Selangor state Human Resource Development Centre, Negeri Sembilan state Skills Development Centre, NGOs, political party as well as on behalf of various other training providers.

    COURSE FEES

    RM235 per person (Fee is subjected to 6% SST)

    # Fee is inclusive of Course Notes and Digital Certificate of Participation

    ORGANISER

    Malaysian Export Academy
    No. 86, Jalan BP 7/8,
    Bandar Bukit Puchong,
    47120 Puchong, Selangor.

    Tel : 03 8066 3107
    Fax: 03 8066 6152

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