Virtual Learning: Preparing for GST Rate Change *New!*


Overview

The last GST rate change (from 5% to 7%) occurred more than 15 years ago, in 2007. Many would have forgotten the experience and some might not have even entered the workforce then. Come 1 January 2023, the GST rate in Singapore will be raised again, this time from the current 7% to 8%.

If you're a GST-registered business, it is crucial that you start your preparations for the impending rate change early. The cost of non-compliance with GST rules will only increase with the rate increase and this needs to be carefully managed.

With this in mind, we have identified key areas that need to be addressed before the new GST rate takes effect and will be covering them during this webinar. 

Course Outline

Overview of GST

Time of Supply Rules

GST Rate Change for Goods and Services

  • Tax Invoice Issued on/after 1 January 2023
  • Tax Invoice Issued before 1 January 2023

GST Rate Change for Continuous Supply of Services


GST Rate Change Exercises


Miscellaneous

  • Price Displays
  • Method of Apportionment
  • Impact on Contracts
  • Credit Note
  • Cash Rebates
  • Goods Returned on/after 1 January 2023
  • Preparing for GST Rate Change

Payments Received Before or After 1 January 2023

  • Cheque Payments
  • GIRO Payments
  • Electronic Payment Modes
  • Businesses that Operate Past Midnight on 31 December 2022


Who Should Attend

Relevant to new businesses and staff, accounts and finance personnel. Existing businesses and staff should also attend this as a refresher workshop or to clarify their doubts. Members are encouraged to attend this workshop to acquire a good understanding of the various provisions of the subject matter. 

Trainer Profile

Mr Andre Lim was a former Inland Revenue Authority of Singapore (IRAS) Senior Tax Officer backed by 6 years of hands-on experience in managing and solving difficult tax returns. He has more than 10 years of public speaking experience. The Accredited Tax Practitioner has conducted more than 200 GST Workshops with many organisations, including Singapore Business Federation.

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Administrative Details

  • Please log on with your Username and Password to register. If you have no existing account with Singapore Business Federation (SBF), please create one for registration.
  • Upon registration, you can make payment directly by PayPal (for Credit / Debit Card), PayNow Corporate or Bank Transfer. An auto e-acknowledgement and invoice will be sent to your registered email.
  • No cancellation is allowed upon registration but attendance by a replacement delegate from your company due to exigency could be facilitated. Please notify SBF of this change, giving at least 3 working days’ notice prior to the date of the workshop to enable logistical arrangements for the replacement.
  • Full payment must be received with registration prior to the date of the workshop to guarantee your place.
  • Admission into the workshop is only allowed if payment / proof of payment has been received prior to the day.
  • Participants will still be liable for payment in the event of no-show on actual day of the workshop.
  • SBF reserves the right to cancel, postpone, reschedule or make any adjustments to the workshop where necessary.

Other Payment Modes:

Select one of the following electronic payment options available (Please key in the invoice number for our reference)

  • PayPal (pay by Credit or Debit card)
  • PayNow Corporate (UEN: T02SS0073H)
  • Bank Transfer (Bank / Branch Code: 7375 / 018, Account No: 118-313-180-5)
  • Billing Organisation via UOB or DBS Website/Mobile app

Ref No.: SB220800

DISCLAIMER

All information, materials and related graphics contained herein and/or provided in the course of the training session(s) (hereinafter referred to as “Information and Materials”) are intended for informational and/or educational purposes only. The Singapore Business Federation does not claim ownership of any of the Information and Materials provided by the external training vendor(s). The information and Materials may from time to time include technical inaccuracies or typographical errors, and changes may be added periodically as may be necessary. Please note that photography, audio and video recording may occur during these events. All photography, audio and video recording may be used by Singapore Business Federation for education, marketing, promotional and/or publication purposes. If you do not wish to have your image recorded or published, for compelling and legitimate grounds relating to your particular situation, please inform our staff.

When
12/27/2022 9:00 AM - 12:30 PM

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