Brochure GST Implementation for Manufacturing & Trading (23 jan 2015)

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GST is Malaysia’s new tax system which affects all walks of life, it will change the way we do business, purchasing policies and record keeping be it a small or multinational companies.

GST : IMPLEMENTATION For Manufacturing & Trading - Registration and Compliance 23 January 2015 ( 9 – 7 PM ) | DR CHOONG KWAI FATT | ALOFT, KUALA LUMPUR SENTRAL 5

HRDF Claimable (Subject to employer’s application to PSMB)

10 CPD

www.synergytas.com/gstimplementation

THIS COURSE COVERS CORE AREA OF GST, IT IS APPLICABLE TO MANUFACTURING & TRADING.

WELCOME We are thrilled that you are interested in GST Implementation for Manufacturing & Trading, the GST course is created exclusively for commercial companies, particularly from the industry from manufacturing & trading.

BEFORE YOU EMBARK ON GST IMPLEMENTATION

Our mission is to help you expedite the learning curve.

The solutions to problem which will eat into the already limited time left for GST implementation which at this point you may not even know it exists.

Whether you are new to GST or have attended the 10 days GST course conducted by Royal Malaysian Customs (RMC). We are here to enable your business to be turned into an even more profitable one by incorporating the missing key ingredient to GST implementation.

Best wishes, Synergy TAS

To ensure participants derived maximum benefit during each GST Implementation seminar, we alter the content according to burning questions submitted and the industry from manufacturing and trading.

SEMINAR’S

 Well researched content to

OBJECTIVE

 Provide step by step approach to ease GST Implementation

shorten your learning curve  An examination of answer to tough yet practical questions

by Manufacturer and Trader  Guide to selection of GST software  Guide to avoid pitfall in GST Implementation  Identify potential technical errors in GST implementation 3

Table Of Content 4 6 8 9 10 12 15 16 18

Objective What is the seminar about Why this seminar is special Who is it for About speaker Program timeline Pricing How to enrol Contact us

GST

GST IS COMING FOR REAL Since the announcement of GST to be implemented with effect from 1 April 2015 and the gazetting of GST Act 2014, GST seems to be a nightmare haunting for some businesses and also the driving force for GST Implementation especially on business entrepreneur, corporate directors, and also those involve in administrative matters, not forgetting the accountants with the increased workloads and GST risks.

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“ The "time bomb" is ticking and requires business operator and decision maker to act immediately to guard against easily avoided tax risk and loss out on tax planning opportunities. “

GST

Ease your transition into the new tax era of Goods and Services Tax. Malaysian taxation will never be the same. It does not only change the tax law, it will also change the way we do business, record keeping and documentation 6

This is not your ordinary GST seminar_

∞

We focus on “how-to” implement GST for Manufacturer and Trader

GST Implementation for Manufacturing and Trading’s comprehensive content, with the objective to get you ready for GST implementation. As opposed to the conventional and general “knowledge” based seminar which provide the answer to “what is” GST, this event is designed to provide the highly sought depth and answer to tough implementation issues.

GST is growing on a continuous and progressive manner, with new guides and ruling being introduced

by Royal Malaysian Customs (RMC), the content listed is not exhaustive, it will be further expanded.

NOT THE ORDINARY WHAT IS GST SEMINAR. When you look at the content below, please see them from the perspective of “how to” implement GST.

Module 1 :Foundation to GST [Question of Supply] (a) The technical concern of GST being a consumption tax (b) The implication of supply, mix supply and deemed supply (c) Valuation concept on supply (d) Rate of GST : standard rate, zero rated and exempt

Module 2 : Invoicing & output tax (e) Designing tax invoice to capture GST output and other invoice’s features (f) Advanced aspect to GST treatment on goods returned, treatment of stock written off

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Module 3 : Computation of Input tax credit (g)

Identifying purchases and overhead expenses (with GST paid), that can qualify for input tax refund/credit to be deducted from GST output

(h)

Question of gift and promotional expenses

(l)

Incentive scheme of manufacturers

Module 4: Transitional issues (j)

Treatment of bad debts

(k)

Transition from existing indirect tax into GST

Module 5 : Registration & GST Compliances (GST returns and payments) (l)

Whether to obtain GST registration with RMC office and obtain a voluntary registration (m) Go or not to go for group registration (n) GST Compliance matters

Module 6 : Contentious issues (o)

(p)

The scope and meaning of a “good accounting system” as required by Royal Malaysian Customs Technical errors possible to be accounted with GST implementation

As more implementation matter is announced(p)

by RMC, the content will be updated.

Various contentious issues

submitted as burning question (HOT!!!) – This is our favorite part

Knowledge is important; Implementation plan is also the main focus for this seminar.

The workshop also includes GST administration on: (a) How to carry out GST returns, book recording, and payment of GST (b) Claiming a refund on GST paid on input (c) Group registration for GST 8

Who is it for_

THIS SEMINAR COVERS CORE AREA OF LEARNING FOR GST, FOR MANUFACTURING & TRADING INDUSTRIES. * APPLICABLE EVEN TO THOSE WHO HAVE NO BASIC KNOWLEDGE ABOUT GST. BUT UNDERSTANDING OF DOUBLE ENTRY IS RECOMMENDED.

Accountants GST Compliance Officer (Personnel involved in implementing GST) The one who is given the honours and duty to figure out how to implement GST in your organisation.

Decision Makers (CEO, CFO, General Manager and Financial Controller)

Major changes and substantial decision making has to be made to embed GST into company’s activities and affect substantial buying , selling and conclusion of contracts.

Administrative managers You are the one who will oversee the purchase and distribution of goods in your company. It is the right time to learn up on the implementation of GST. How your action need to be refined to embed GST system into your operation.

Professionals

(auditor, tax agents and company secretary) The advisors to businesses please gear up and patch up your dose of GST knowledge and implementation action plan.

Auditor has a substantial role to play during transitional period.

The next level is GST for Practitioner.

Applying a new MFRS is tough enough, what more a whole new GST system which is transactional based and cut across all transactions in your entity.

The record keeping and recording of historical transaction has a new role to play, it is paramount important for you to understand all the ins and outs of GST implementation.

How it will affect your documentation from now onwards and all the compliance requirements and thresholds table involved.

There are ample work to prepare before the shift.

IT personnel

For those involved in designing software that is to be used in GST implementation.

Implementation of GST is transactional based. The aid of accounting software with GST’s features has never been so crucial for taxation until now

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What people says about him :

About Speaker_

“This is so worth it.”

“Good job, good job”

Get to know more about your wonderful speaker DR CHOONG KWAI FATT is the pioneer in GST. He is appointed by the Ministry of Finance as one of the panel members reviewing tax reforms in Malaysia, inclusive of the formulation of GST. With his research work on GST being published in 2006 and articles in 2007.

He has more than 24 years’ experience of providing consultancy services to listed companies, audit firms and the Government. Dr Choong is a highly sought GST & tax consultant and speaker. He is highly qualified with both professional accounting qualification and legal qualification. With chartered accountancy from 6 professional bodies and called to bar as an Advocate and Solicitor in Malaysia. Also an avid researcher equipped with a PhD in taxation.

He has won various awards for excellent in tax research and published GST & taxation articles in reputable journals in and outside Malaysia. His research works have been quoted in many tax cases and have influenced the formulation of tax policy in Malaysia.

He is known by attendee of his seminar as a man with heart of gold. He is passionate about helping the tax professionals, accountants, senior executive, lawyers and business owners to enhance in taxation skills, knowledge and wealth through mitigating of GST risk and implementation. Having more than 20 years of experience in public speaking, participants love him for this passion in taxation and ability to make complex tax concept understandable by different walks of life.

DR CHOONG KWAI FATT

He is the expert of experts in terms of GST & tax planning, where he provided advice and personally trained corporate accountants and professional firms on tax planning and GST implementation. Get ready to take good notes when you attend his GST implementation seminars.

Tax Consultant, Advocate and Solicitor (High Court of Malaya) 10 B.Acc(Hons)(Malaya),LL.B(Hons)(London), CLP, MCL(IIUM),PhD(IIUM), FCCA(UK), CPA(M), CA(M), ACA(ICAEW), , CA(Aust.),CPA(Aust.), CGA(Can), FCCS.

GST Implementation is the most highly demanded 3 THINGS YOU SHOULD GST seminar, and we know the reason why.

POINT THREE : WE LISTEN TO YOUR CONCERNS KNOW POINT TWO : GREAT MATERIALS

BEFORE ENROLLING FOR THIS EVENT POINT ONE : UNIQUE CONTENT, OUTSTANDING SPEAKER Other GST seminar focus on just scratching the surface of “what is GST”, we specifically design this seminar to be practical in nature.

We focus on not just “what is GST”, also on “how to implement GST”.

Conducted by renown speaker, author and consultant, Dr Choong Kwai Fatt. His experience as member of Malaysia tax review board is invaluable.

This is an industry specific GST Implementation seminar organized by Synergy TAS. It is foreseen to be taken up very quickly.

We place emphasis on providing great materials.

We give structure to what you need to learn, by inserting the context.

Most seminar focus on one side communication, the speaker speaks while you listen. In GST Implementation, we focus on you, listening before we speak.

We crafted a special section where you can submit your “burning question” before attending the seminar. It is our fundamental policy to provide answer to your technical GST questions. Where we will based on burning question submitted to expand on the content presented during seminar.

Get

In addition, the content of the seminar is customized according to attendee of the seminar.

Dr Choong prepares the seminar material based on questions raised within the industries. As such the contents expand according to attendee with focus being placed on GST concerns faced and its solution presented during the seminar.

2 hours is allocation to address burning GST questions.

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Program Timeline_ 23 January 2015 The estimated timeline to master GST implementation and registration concerns 20 November 2014

8.30 AM

10.15 AM

BREAK (SNACKS PROVIDED)

10.30 AM

Studying whether group registration is beneficial for

REGISTRATION & BREAKFAST (BREAKFAST PROVIDED)

your company 9.00 AM

GST registration with Royal Malaysia Customs (RMC) and obtain a GST license

Suggesting software to be used for GST compliance

Concept of “consumption” tax and its mechanism

Treatment of bad debts

Designing tax invoice to capture GST output 12.30 PM

Lunch (Meal Provided) / Friday Prayer

2.00 PM

GST treatment on goods returned, treatment of stock

Identifying purchases and overhead expenses (with GST paid) that can qualify for input tax refund/credit to be deducted from GST output

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written off

Claiming a refund on GST paid on input

The scope and meaning of a "good accounting system" as required by Royal Malaysian Customs.

Group registration for GST

GST Rates: standard rate, zero rated and exempt

3.00 PM

BREAK (SNACKS PROVIDED)

5.00 PM

Q & A Session

End of live event 7.00 PM

3.15

Transition from existing indirect tax in GST

How to carry out GST returns, book recording, and payment of GST

Burning Question Group registration for GST

Highlight of this event is the 2 hours Q & A session. Where participants will address their GST concerns and get them answered by Dr

Send us your burning questions on GST !

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Choong. Various companies have found this to be extremely useful and practical, the opportunity to tap into the speaker’s insight on issues arising in their company is priceless. Email us two of your GST Burning Questions to be addressed by the speaker during Q & A session after payment is made.

Why participants love us_

10 CPD

10 CPD is awarded and certification.

Our participants came from different professional bodies. We partner with the university to provide you with a certification accepted by the various professional bodies.

May be you will like us for the same reason

HRDF claimable Seminars conducted by Synergy TAS are eligible for HRDF claims under the Skim Bantuan Latihan (SBL) Scheme, subject to prior application to HRDF by the employers and its approval.

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Content not exhaustive Taxation is a field which grows continuously be it arising from the parliament, the court or the Custom authority. As such the list of topics covered is not exhaustive. We will add on new current topics as it arises until the event day to ensure we bring you a seminar packed with maximum GST implementation ideas.

Expert of the experts We engage Dr Choong Kwai Fatt to conduct this GST seminar. Tap into the creative yet practical mind of Dr Choong.

4 hours Q & A This is the highlight of the event.

2 hours of non-stop QUESTION AND ANSWER by the expert on your GST concerns on each day of the seminar.

GST implementation is about knowing the strategy to apply in specific scenario to maximise tax saving in a legal manner. Sharing of such experience is vital to both practitioners and decision maker / GST implementer.

Pricing_

Seminar fee is at RM 1,280.

With group registration at RM 100 for registration of 3 – 4 pax. 5 or more pax enjoy RM 200 off. *Early Bird Discount of RM 200 off (Ends on 31.12.2014)

.

1 -2 pax

3 – 4 pax

5 or more

RM100 off

RM200 off

1,180

RM *RM

1,080

Register

15

*RM

980

Register

*RM

880

Register

HOW TO ENROLL FOR THIS EVENT 01

02

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REGISTER ONLINE

INVOICE

BANK IN SLIP

Visit our website to fill up the registration form online Synergytas.com/gstimplementation

When you submit the registration form, an invoice will be generated automatically and delivered through email to the person listed as contact person for billing.

$ 16

Upon making payment into our acount, please email the bank in slip to billing@synergytas.com Pay to : "SYNERGY TAS" [Maybank : 5141 7863 3603]

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EVENT REMINDER One week before the event we will remind you again through email, SMS or call

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WE ARE GOOD

AT WHAT WE DO BECAUSE WE ARE PASSIONATE ABOUT IT

See you on 23 January 2015

Contact us for any clarification.

We look forward to seeing you.

Synergy TAS

Bringing you the best seminars in town...

Suite 153, PG-15A, Ground Floor, Jaya 33, No. 3, Jalan Semangat, Section 13 46100 Petaling Jaya, Selangor, Malaysia.

P. (016) 302 6109 / (019) 311 0625 E. event@synergytas.com w. www.synergytas.com/gstimplementation