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GST Tax Codes: Latest Update - How To Apply The Latest 34 Recommended GST Tax Codes

Expert Speaker Yee Hun Leek

MYR901.00 (including SST)



The Royal Malaysian Customs Department (RMCD) has revised and recommended 34 tax codes in its latest 2nd March 2017 revision of the “Guide on Accounting Software Enhancement towards GST Compliance”. The previous release of the Guide recommended 39 tax codes (released 20 July 2016) and 37 tax codes (released 1 August 2016).
With this latest update, preparers and auditors of GST-03 Returns must ensure the accurate assignment of GST tax codes to avoid material errors, omissions and costly mistakes.

This workshop, designed specifically for preparers and reviewers of GST reports, will provide you with an in-depth understanding of the 34 recommended tax codes by integrating the latest GST updates with practical accounting best practices and relevant IT systems changes. Through a combination of interactive discussions, practical examples and illustrations, you will be able to ensure the accuracy of your GST-03 Returns.

What You Will Learn

At the end of this workshop, you will:
  • Obtain the latest GST updates
  • Understand the 34 GST tax codes recommended by RMCD on 2nd March 2017
  • Be able to correctly assign GST tax codes for different business transactions
  • Gain insights on GST tax codes comparison: BL vs TX-NC, NP vs NS, ZRE vs ZDA, OS vs OS-TXM, accounting double entries and mapping of tax codes to GST-03 Returns
  • Understand the new GST Audit File (GAF) Version 2.0.

Who Should Attend

This workshop is suitable for:
  • Financial Controllers
  • Finance Directors / Managers
  • Accountants and Accounting Staff
  • Anyone involved with the preparation and review of GST returns

Programme Outline

Latest GST updates

  • Key concepts and mechanism of supply and acquisition/purchase/expense

Mastering the new and revised 34 GST tax codes

  • Why were the new and revised GST tax codes introduced?
  • The 34 new and revised vs previous 24, 39 and 37 recommended tax codes
  • Additional 4 new GST tax codes for mixed suppliers
  • Assignment and application of the 34 GST tax codes
  • GST tax codes comparison: BL vs TX-NC, NP vs NS, ZRE vs ZDA, OS vs OS-TXM
  • Issues related to application of the 34 GST tax codes
  • Practical examples and case studies

GST-03 return and revised GAF Version 2.0

  • Mapping of GST tax codes to GST-03 Returns
  • Understanding GAF Version 2.0

Q & A session

Expert Speaker

Yee Hun Leek has been a chartered accountant with a Big Four international accounting firm. He is the founder and managing partner of a chartered accountants firm, Messrs. YHL & Associates, providing audit and assurance services. He is also the founder and executive director of YHL Consulting Group Sdn. Bhd., a tax and business consultancy company.

Yee has extensive experience in various industries and provides consultancy services to a wide range of businesses. He was the principal consultant and acting CFO for a Malaysian group of companies that have successfully listed via reverse takeover on the AIM Market of London Stock Exchange, UK, in January 2008. He has also appeared as an expert witness at the High Court of Malaysia for his opinion on accounting and finance matters in civil cases.

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