Many business organizations may have a broad idea of how GST works but many have not assessed the effects and implication of GST on their businesses, and certain terms of GST regulations have been changed from time to time. This workshop is designed to equip participants with the knowledge of the Malaysian GST mechanism and the latest updates of GST changes.

Certification by PEAK SUCCESS ABUNDANCE – Graduates Your Colleagues

Certification by PEAK SUCCESS ABUNDANCE – With Thanks

Congratulations on Completing the Training by PEAK SUCCESS ABUNDANCE

Participants will learn:

  • The overall GST mechanism and implementation
  • GST impact on the input and output business transactions
  • Calculate the input tax that you can claim back and understands the supplies that you are eligible to claim
  • How to complete GST Return submission, make payment and make adjustment on the GST Return
  • Latest List of Tax Codes
  • Finance staff
  • Procurement and Logistic staff
  • Any person aspires to gain knowledge on GST

1. OVERVIEW OF GST

  • Explain the key features of current sales tax and service tax
  • Identify key features of the Malaysian GST model
  • Understand the basic concept and features of GST
  • Describe the GST collection and payment process

2. SCOPE OF TAX

  • Define the scope of GST
  • Understand the 3 different scenarios in scope
  • Understand the meaning of “supply”
  • Determine the scenarios that require reverse charge mechanism

3. TYPES OF SUPPLIES

  • Describe the differences in GST treatments of various types of supplies
  • Explain the definition of place of supply in GST
  • Determine the tax point of GST
  • Calculate the GST amount to be charged based on value of supply

4. INPUT TAX

  • Describe the key features of GST input tax
  • Identify the requirements to claim input tax credit (ITC)
  • Determine the supplies that are ITC blocked

5. OTHER GST TERMS

  • Determine the GST treatment of supplies made from/to designated areas
  • Explain the concept of GST group registration
  • Identify liable persons of a company, firm, society or other body for tax, penalty or surcharge
  • List the criteria of zero rating a supply during GST transition period
  • Describe the GST treatment of payments, invoices and importations before GST implementation date

6. CLAIMING INPUT TAX CREDIT

  • Entitlement to claim input tax
  • Distinguish the documentations required to claim ITC for local and imported supplies
  • Identify the requirements of a valid tax invoice

7. FILING OF GST RETURNS

  • Understand the GST filing and payment cycles
  • Know when to submit GST returns
  • Know the means of making GST payments

8. GST ACCOUNTING

  • Mapping of Purchase and Supply tax codes correctly on GST-03 Return to generate an accurate GST Return
  • Maintaining proper audit file in compliance with GAF to avoid penalty consequences

9. GST LATEST UPDATES

  • The latest updated of GST in Malaysia
  • The new Tax Codes

COURSE METHODOLOGY

A combination of class lectures, exercise, case studies or examples and group discussion. The course will be intensive but practical and highly interactive. Participants are encouraged to participate actively and to ask questions especially pertaining to specific problems.

LAI SU YIN

Lai Su Yin is an ACCA Chartered Accountant having over 20 years of experience in Finance and Accounts field with practical financial skills on various functions. His experiences including managing business operations with business partners to ensure company investments are safe guarded and maximized, reviewing project economic value to ensure the return of investment within the target, analyzed Income Statement and proposed strategic initiatives to enhance profitability,  involved in designing of cost allocation mechanism to ensure the correctness of cost charging, participated in negotiation of facility cost sharing with commercial team, and managing all other financial activities such as general ledger postings, budgeting and variances analysis, month end accrual preparation, reviewing financial statements, cash flow statements and preparing taxation forecast. He also has good track records in conducting many training sessions related to finance and organization improvement. He is a PSMB Certified Trainer.

Academic Profile

  • ACCA – Association of Chartered Certified Accountants
  • PSMB Certified Trainer
  • Degree in Accountancy BA (Hons) – Bolton Institute, UK

Work Experience

  • 20 years of experience in Finance and Account job function (5 years in Manager position):
    • Hands on practice of SAP Finance system and preparing periodic financial performance reports such as budget variance, financial statements, etc for management consumption and decision making
    • Preparing Taxation forecast and generating estimated taxable amount for submission to IRB
    • Coordinating and preparing annual budget, assess the long term cash flow to ensure business profitability and continuity
    • Reviewing Accounting Procedures periodically to ensure processes are in compliance to International Financial Standards
    • Assessing economic value of new projects or business development proposal for prudent decision making
    • Designing SAP Accounting system together with SAP Consultants on WBS coding, Cost Allocation, GST implementation, etc
  • 5 years in Operations Performance Improvement job function:
    • Providing internal consultant services for organization performance improvement such as Situational Assessment including benchmarking and develop an improvement intervention plan for gaps closing
    • Conducting improvement tools training to internal staff and guide them to execute assessment and develop action plans
  • Facilitation/Trainer experiences:
    • Conducted in house and external Finance related training such as Finance for non-finance and Finance for Business Performance
    • Conducted in house Operations Improvement trainings and workshops for organization performance improvements
    • Participated in design of few Teambuilding sessions together with professional teambuilding trainers targeting specific achievements
    • Involved in conducting Finance Professional Skills in house Training on specific subject such as Budget Monitoring, Cost Allocation, etc

Training – Leadership

  • Management Development Program (MDP) (PLC)
  • Corporate Coach (Power+)
  • Leadership and Corporate Coach (Nota Asia)
  • Emotional Intelligence for Leadership Excellence (Global Education Management)
  • Level 5 Manager (P2B Solutions)

Training – Facilitation

  • Train The Trainer (HRDF)
  • OPI ACE Academy (PLC)
  • The Art of Facilitation (PLC)
  • Facilitation Skills (PLC)
  • Teambuilding Program (PLC)
  • TOT on OPI Modules (PLC)
  • High Impact Presentation Skill (PLC)