Overview

GST has undergone several key changes in recent times.

1. The Royal Malaysian Customs Department (RMCD) has issued several Public Rulings in 2017 and 2018, in accordance with Section 76 of the GST Act 2014. These Public Rulings explain and clarify certain GST treatments to ensure compliance with the Act.

2. Additionally, RMCD has revised the Guide on Accounting Software Enhancement towards GST Compliance on 5 February 2018 and most recently on 8 March 2018, reducing the recommended GST tax codes from 38 to 35.

3. RMCD has made amendments in the Goods and Services Regulations (Amendment) 2017 that require a registered person to declare the total value of other supplies in Field 15 of GST-03 return. These amendments come into force on 1 January 2018. However, a registered person has been given a grace period of 6 months until 30 June 2018 to prepare their accounting system to adopt these changes.

Designed for tax, accounting and finance leaders, this workshop will provide you with a practical understanding of how the latest GST changes will impact GST-registrants and how best to manage its compliance.

Learn how to address the issues arising from the GST Public Rulings and obtain a comprehensive review of the revised tax codes and changes in the GST-03 form.

What You Will Learn

At the end of this workshop, you will:

• Understand key changes in the Malaysian GST Model with updates from the 2018 Budget
• Gain insights into the issues arising from the Public Rulings issued by RMCD
• Understand the revised and new GST tax codes issued by RMCD on 8 March 2018
• Be able to rightly apply the recent changes in your GST-03 return

Programme Outline

• Revisit of the Malaysian GST Model, key concepts and mechanism with updates up to Budget 2018
• Comprehensive review and addressing the practical issues of the Public Rulings issued by RMCD in year 2017 and 2018
  • PR No. 01/2017: Imposition of penalty (issued on 1/11/2017)
  • PR No. 02/2017: Supply by healthcare professional (issued on 1/11/2017)
  • PR No. 03/2017: Gift rules (issued on 1/12/2017)
  • PR No. 04/2017: Issuance and holding of securities (issued on 12/12/2017)
  • PR No. 01/2018: Supply of commercial residential properties  (issued on 11/1/2018)
• The 35 new and revised vs previous 38 recommended tax codes
• Assignment and application of new and revised GST tax codes
  • IM-CG
  • ZP
  • ZDA
  • TX-FRS
  • TX-NC
  • SR-MS
  • SR-JWS
  • OS-TXM
  • NTX
  • NS
• Mapping of GST tax codes to GST-03 return
• Supplies and transactions to be included in Field 15: Total value of other supplies

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.