Sales & Service Tax (SST) 2018 Updates with Current Implementation Mechanism

INTRODUCTION

This course provides participants with the necessary content of sales tax to understand the update of SST 2.0 operations. RMCD announced the scope of additional taxation for SST after the 2019 Budget. Because it covers a very wide range, these new issues must be known not only by SST registrants, but also by non-SST registrants. This will avoid additional specifications and fines

WHO SHOULD ATTEND

CFOs and Financial Controllers, Tax Managers and Tax Consultants, Chartered Accountants, Advisors, and Auditors, Company Secretaries and Business Consultants, Professionals and Staff involved in preparing for implementation of SST, Accounting staff engaged in preparing accounting records for SST registered.

METHODOLOGY

Power-point presentation and participants’ interaction and discussions

COURSE OUTLINE

MODULE TOPIC
MODULE 1 SALES TAX UPDATES VIA THE 2019 BUDGET

MODULE 2 FUNDAMENTAL AND SCOPE OF SALES TAX

  • General Scope of Sales Tax
  • MODULE 3 SST REGISTRATION

  • Threshold and its determination
  • Mandatory and Voluntarily registration
  • Group, Branch and Partnership registration
  • Timing of Registrations and its effective date
  • Single Taxable person concept
  • Transfer of Going Concerns under Sales Tax
  • Registration Cancellation
  • Responsibilities of a Registered Person
  • MODULE 4 SALES TAX

  • 2018 Sales Tax Model
  • Sales Tax Application and Exemption available to different, like importers, Exporters, Manufacturers, Governments, Individuals, etc.
  • 3 types of taxable areas and its valuation for tax purpose for 3rd party and inter-company
    •   Definition of Manufacturing
  • Rate of Tax Order – Exempt, 5%, 10% and Specific rate.
  • Types of exemptions under the exemption orders:
    • a. Goods exempted from charging sales tax
      b. Persons exempted from paying sales tax.
          - Schedule C – Registered Manufacturers and person acting on behalf of manufacturers
          - Schedule B – Non-Registered Manufacturer on their production of specific sales tax exempted goods
         - Schedule A – Other categories of person, c. 20 activities exempted from sales tax registration.
  • Sales Tax Credit Systems.
  • Sales Tax treatment for import and goods movement to and from:
    • a. Designated Areas
      b. Special Areas
  • Import Services and its filing of returns and payment of the service tax.
  • MODULE 5 ACCOUNTING ADMINISTRATION

  • Invoice, Debit Note and Credit Note prescribed particulars requirement
  • Issuance of D/N and C/N verses Contra Systems requirements
  • Standard and Specific Taxable Period
  • Filing of Returns & Payment of Tax
  • Accrual and Payment Methods for Service Tax.
  • Transaction classification code in supporting of your returns
  • Bad Debt Relief and recovered procedures
  • Offences, Compound and Penalties
  • MODULE 6 ANTI-PROFITEERING REGULATIONS COMPLIANCE

  • Understand its scope coverage requirements and its offences.
  • Learning their mark-up margin and unreasonable high profit calculation.
  • MODULE 7 SUGAR TAX

  • Understand the latest developments in SST 2.0
  • Understand the accounting entries and requirements for SST 2.0 reports
  • TRAINER’S PROFILE

    Santhanasamy Subbiah has more than 30 years of experience in corporate world on accounting and finance practices. His experiences in various industries include that of Banking, Manufacturing, Education, Insurance, Security, Plantation, Shipping, Shared Services and Freight Forwarding. He was also with the Ministry of Works engaged in special projects funded by the World Bank.

    Besides being in the corporate world he has lectured MBA programmes for the following Universities:- Open University Malaysia, University of New Castle Australia, Herriot Watt University UK, Asia Pacific International University and was a Dean for the School of Accounting and Finance with a local University.

    As a self-starter with his vast experience in numerous industries he is today a trainer and a principal consultant on GST for numerous of companies. He is no novice to GST. He has worked closely with Price WaterHouse Coopers on matters pertaining to GST since 2005 and contributed valuable inputs during the meeting with Ministry of Finance on matters pertaining to the implementation of GST in Malaysia.

    His specializes on the Understanding, Implementation and Hands-On training programs on Goods and Services Tax for numerous industries such as manufacturing, oil and gas, construction, logistic, retail, airlines, IPTA and many others. He is a GST trainer of Malaysian Institute of Accountants, Malaysian Institute of Insurance and Malaysia Institute of Corporate Governance.

    Santhanasamy holds an MBA majoring in Finance from University Putra Malaysia. He is a member of the Chartered Accountant of Malaysia, Chartered Management Accountant of UK, and an Associate Member of the Malaysian Institute of Management. He is a Certified Trainer of HRDF. He is a certified GST Tax Agent of Ministry of Finance.

    COURSE FEES

    RM 901 person– SBL claimable (Inclusive of lunch, tea breaks, notes, certificate of attendance and 6% SST)

    *Group discount of 10% available (for 3 or more participants from the same company)

    *Muslim participants will be given 1 meal voucher during the month of Ramadhan

    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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