T A X A T I O N

S E R i E s

Understanding Goods & Services Tax (GST) in Malaysia

Are You Ready?

GST is a fiscal policy featured in over 140 countries worldwide. It is a broad based consumption tax, replacing the current sales and service tax in Malaysia. It is therefore important for businesses to have a better understanding of GST system and be GST ready.

T A X A T I O N

S E R i E s

Making Sense of GST

Understanding Goods & Services Tax (GST) in Malaysia Are You Ready?

The International Monetary Fund (IMF) has long recommended the introduction of GST as a way of raising the efciency of the Malaysian tax system. Malaysia plans to introduce a four per cent goods and services tax in 2011, replacing current sales and services tax (SST) in a bid to diversify national revenues. The aim of the seminar is to introduce the participants to this new tax system which is proposed to be introduced in 2011 so that companies can be prepared for its introduction without any delay and to maximise costs.

Objectives
Participants will learn: Key elements of GST and its mechanism. Implications of GST on businesses. To identify and review business activities in line with GST. To effectively overcome implementation, compliance and enforcement issues. Treatment of transitional issues upon implementation of GST.

Facilitator
P. NaDaraJa P. Nadaraja was formerly with the Royal Malaysian Customs as a Senior Customs Ofcer. He served in various units and specialised in customs administration, import and export procedures, classication, valuation, licensing and compliance matters. He possesses indepth knowledge in various customs legislations including Customs Act, Sales Tax Act, Service Tax Act, Excise Act and other subsidiary legislations. His vast experience in the eld of Customs has made him a popular guest lecturer at the Royal Malaysia Customs Academy in Malacca. He left the Customs Department in 1997 on optional retirement for a private practice as an Advocate and Solicitor. He is now involved in legal practice and at the same a time is actively conducting seminars and workshops on Customs related topics. He has also conducted in-house training for various companies including statutory bodies and has advised and consulted companies on the issues of customs and sales tax valuation, classication, service tax matters, drawback, refunds, exemptions and others. He was ofcially appointed by the Customs Department to conduct Basic Customs Course for forwarding agents for a duration of 2 years in 2005. Nadaraja is an Associate of the Malaysia Institute of Chartered Secretaries and Administrators.

Methodology
Lectures, supported with PowerPoint, discussions and a Q&A session.

Who Should Attend

Finance Managers, Accountants and Auditors General Managers Management Corporations Manufacturers & Traders Purchasing / Procurement Managers Operations Managers IT Personnel Management / Business Consultants Tax Advisors

T A X A T I O N

S E R i E s

Making Sense of GST

Understanding Goods & Services Tax (GST) in Malaysia Are You Ready?

Course Outline
1 Introduction 2 Comparing SST vs. GST 3 Objective 4 Rationale for Implementing GST 5 Scope and Charge to tax 6 Types of Supply Standard Rated Supply Zero Rated Supply Exempt Supply Out of Scope Supply 7 Tests for GST What is a supply Taxable Supply Taxable Person Concept of Business 8 Input & Output Tax, and Credit Mechanism 9 Concept of Supply Place of Supply Time of Supply Value of Supply 10 Reliefs, Exemption, Refund & Remission 11 Computation of Taxable Turnover 12 Registration Liability to Register Voluntary Registration Group Registration Branch Registration Exemption from Registration Partnership Deregistration 13 Accounting for GST Taxable Period Accounting Basis Bad Debt Provision Tax Invoice & Simplied Tax Invoice GST Returns Input Tax Credit (ITC) Input Tax Apportionment Deminis Principle Input Tax Adjustments 14 Special Cases Non application to Government Treatment of Agents Supplies spanning changes in rate or description Transfers as Going Concern (TOGC) Joint Ventures Warehousing Scheme Approved Trader Scheme Toll Manufacturer Scheme Approved Jeweller Scheme Flat Rate Scheme Designated Areas 15 Review and Appeals 16 Goods & Service Tax Rulings 17 Transitional Issues Payments & Invoicing before GST Effect on GST Irreviewable Contracts Progressive & Periodic Supply Rights granted for life Refund of sales tax on goods held on hand Special Refunds Construction Agreements Retention Payments 18 Offences & Penalties 19 Questions and Answer

REgIstratIon Form | MPDC programmE

Online Registration: www.mia.org.my
paRticipants dEtails 1. FULL NAME AS PER I/C (Dato / Datin / Dr / Mr / Mrs / Ms): VEgEtaRian mEal

programmE rEgIstErED for: UnDErstanDIng GooDs & SErVIcEs TaX (GST) In MaLaysIaArE You REaDy? 22 & 23 September 2010, Wednesday & Thursday Melia, Kuala Lumpur 29 & 30 November 2010, Monday & Tuesday Mutiara, Johor Bahru

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MEMBERSHIP NO.1 : VEgEtaRian mEal

2. FULL NAME AS PER I/C (Dato / Datin / Dr / Mr / Mrs / Ms):

Member | RM 900 Member Firms Staff or Sponsored Staff 1 | RM 1,000 Non-member | RM 1,100 rEgIstratIon / EnQuIry KLANG VALLEY CaLL : Vera TEL : 03.2279 9358 FaX : 03.2273 5167 EmaIL : mpdc@mia.org.my ADD : Malaysian Institute of Accountants Dewan Akauntan, No. 2, Jalan Tun Sambanthan 3 Brickelds, 50470 Kuala Lumpur JOHOR BAHRU CaLL : Faizura / Hanem TEL : 07.227 0369 FaX : 07.222 0391 EmaIL : miajbu@mia.org.my ADD : Malaysian Institute of Accountants 5.03A, 5th Floor Menara TJB No. 9. Jalan Syed Mohd Mufti, 80000 Johor Bahru
tErms & conDItIons coursE fEE Fee is payable to: 1. MIA-MPDC for programmes in the Klang Valley and other locations (other than item 2); 2. MALAYSIAN INSTITUTE OF ACCOUNTANTS for programmes in Perlis, Penang, Perak, Kedah, Johor, Sabah and Sarawak. Fee includes course materials, lunch and 2 tea breaks per day. Admittance will only be permitted upon receipt of full payment. Registration made by fax must be followed immediately by payment. CANCELLATION / TRANSFER Upon registering, participant(s) are considered successfully enrolled in the event. Should participant(s) decide to cancel/transfer their enrollment; a cancellation/transfer fee will be levied. Written cancellations/transfer notice received: Within (5) working days before the event, a refund (less an administrative charge of 20%) will be made. For no-show on the day of the event, no refund will be entertained. You can substitute an alternate participant(s) if you wish to avoid cancellation/transfer charges. Any difference in fee charges will be charged accordingly. Cancelled/transferred unpaid registrations will also be liable for full payment of the registration fee. sponsorED staff 1 Sponsoring member is required to indicate his/her name, designation and membership number in the registration form. The sponsored staff must report directly to him/her in his/her rm or company, but for the latter, not in a subsidiary or related company. In the absence of written information on sponsoring, no refunds will be applicable after conrmation of acceptance of registration. Terms and conditions apply. CPE HOURS All participants will be presented with a Certicate of Attendance upon successful completion of the programme. For MIA members, the CPE hours will be credited into the Membership System within 2 weeks of the programme. DISCLAIMER Malaysian Institute of Accountants (MIA) reserves the right to change the speaker(s), date(s) and to cancel the programme should circumstances beyond its control arises. MIA also reserves the right to make alternative arrangements without prior notice should it be necessary to do so. Upon signing the registration form, you are deemed to have read and accepted the terms and conditions.

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