GST forMix Suppliers

GSTSeminar

RM

13 October 2015 (Tuesday)

Armada Hotel,Petaling Jaya

#

RM805.60 RM710.20Members of Strategic Partners

RM837.40 RM742.00GlobalAcc Corporate Members

RM879.80 RM784.40Non Members

SEMINAR FEE (GST INCLUSIVE)

Strategic Partners:

8CPE

HOURS

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(Globalacc is a registered training provider with HRDF. MyCo ID No: 755452-D)

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GLOBALACC Tel: 03-7880 3028 (Johnny / Shariff)Fax: 03-7880 3009019-650 3032 (Mr. Goh)/012-311 0181 (Johnny)Email: globalaccrt@gmail.comWebsite: www.globalacc.com

Globalacc Research & Training Sdn Bhd (755452-D) [GST No. 001869217792]J-1-19 Jalan PJU 1/43, Aman Suria Damansara, 47301 Petaling Jaya, Selangor

Bank details: PBB 313 968 4822

www.g

loba

lacc

.com

• Full payment is required to guarantee entry to the seminar room. You can bank in & fax bank in slip to us. Cheque is to be payable to ‘Globalacc Research & Training Sdn Bhd’• Cancellation is not allowed but replacement is welcome with prior notice• Organiser reserves the right to amend or cancel the events• Certi�cate of Attendance will be issued. CPE hour for members of professional bodies is subject to veri�cation and approval of the respective bodies• Video and sound recording is not allowed during the seminar• Application to HRDF for claims is subject to approval by the relevant authority

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INTRODUCTION

Under the Malaysia GST legislation, a business that makes both taxable supplies and exempt supplies are required to apportion and adjust certain type of input tax over a period of time. With a good number of sectors falling under Exempt Supply category, many companies and businesses may end up as a ‘mixed supplier’ that is subjected to many complicated regulations and rules governing the claiming, attribution, apportionment and subsequent adjustments of certain type of input taxes. The three main rules are the longer period adjustment of residual input tax, capital goods adjustment and change of use over 6 years adjustment.

The sectors involved include property developers, JMB/MC, hospitals, education sectors/colleges, transportation and toll companies, �nancial service companies(except for those under Fixed Rate Recovery rule) and companies involved in burial services.Mixed suppliers are considered high risk registered persons as input tax could be wrongly claimed or over claimed. This could be discovered during the tax audit and penalty may be imposed. At this juncture, it is still not proven if the software is able to handle all these adjustments accurately and efficiently. There could also be potential accounting and income tax issue on unclaimed input tax and the subsequent adjustments which are pending further guidelines from the relevant bodies.

The objective of this seminar is to outline and explain the provisions in the laws and regulations as well as the formulae involved and to discuss practical issues, solutions and options. It is not meant to be speci�c to any particular sectors. The information and knowledge shared in this seminar will enable participants to plan and manage its input tax claims more properly as well as the business structure and software involvement.

WHO SHOULD ATTEND• CFOs, accountants and key accounting staffs of the mixed supplies sector • Tax agents and consultants• Directors, management team and heads of relevant departments of companies in these sectors• Anyone interested to learn more about GST and its effect on these sectors

GST for Mix SuppliersSeminar Outline

PROFILE OF SPEAKERGoh Kean Hoe is an approved company auditor and a licensed tax agent with past and present clients that include PLCs, MNCs, SMEs, and entrepreneurs. Previously an audit manager with a Big Four Accounting Firm and a company �nancial controller, he has wide exposure in many �elds over the past 20 years including the property sector and international assignments. His biggest strength is his technical knowledge and analytical skill. He has published articles on deferred taxation and property development accounting in the national journal and newspapers.

Kean Hoe holds a Bachelor of Accounting from the University of Malaya. He is a member of MIA, MICPA and CTIM and was involved in working groups and task forces of both MIA and MICPA. He was the Honorary Treasurer of Malaysia Economic Association (MEA) and a trustee for its foundation for 6 years. He has conducted numerous seminars and workshops on �nancial and accounting related subjects.

In preparing for GST implementation in Malaysia, Kean Hoe has been working closely with GST Academy Singapore since 2010 to develop GST training programmes for Malaysia and to provide GST consulting services. He has successfully completed the 10 day course conducted by the Royal Customs of Malaysia for GST consultants and agents and is an approved GST tax agent licensed by MOF. He was involved in a number of GST implementation projects in 2014/2015 and is currently a GST consultant to a few companies.

GOH KEAN HOE

Agenda 8.15 am - Welcome and registration 9.00 am - Seminar commences10.30 am - Morning break10.45 am - Seminar continues

1.00 pm - Lunch 2.00 pm - Seminar continues 3.30 pm - Afternoon break 3.45 pm - Seminar continues 5.00 pm - Seminar ends

1. Who are ‘mixed suppliers’ subject to input tax adjustments? • GST Exempt Supply Order 2014 – Review of sectors and goods and services classified as Exempt Supply

• Registration issues for mixed suppliers

• Invoicing for different type of supplies

• Incidental Exempt Financial Supplies

• De Minimis Rule

• Review of GST regulations on input tax for mixed suppliers

2. Input tax attribution, apportionment and IRR • Input tax on exempt supplies and taxable supplies and the relevant tax codes

• Attribution process and residual input tax

• Understanding the standard Turnover Method and the formula of Input Tax Recovery Ratio(IRR)

• Application for use of other methods

3. Longer period/annual adjustment of residual input tax • Determining tax year and longer period

• Calculating the adjustment (under/over claims)

• When and how to make the adjustment in GST return

4. Capital goods adjustments • In what situations this rule applies

• What type of capital goods are subject to this rule and the period of adjustments (first and subsequent intervals)

• How to calculate the adjustments (under/over claims) in subsequent intervals

• What happen when the asset is disposed off

• When and how to make the adjustment in GST return

5. Adjustment for change of use within 6 years • In what situation this rule applies and in what situation it does not

• When and how to make the adjustment in GST return

• What happen when the asset is disposed off