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SST Guides and Latest Updates: Addressing Post-implementation Issues

Expert Speaker Yee Hun Leek

MYR901.00 (including SST)

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Overview

With a short transition period from GST to SST, Sales Tax Act 2018 and Service Tax Act 2018 have finally replaced the GST Act 2014 with effect from 1 September 2018. The new Sales and services tax (SST), also known as SST 2.0, have adopted the previous SST model with some enhancements, expansion of scope and incorporated some of the Goods and Services Tax (GST) concepts and mechanism.

Due to the complexities of the scope and charge of SST and treatments of SST, Royal Malaysian Customs Department (RMCD) have issued and revised various SST Guides to address the SST post-implementation issues. In addition, RMCD has also issued DG’s decisions to provide further clarifications and interpretation of the SST legislations. 

This workshop will revisit the SST concepts and mechanism with SST Guides issued by RMCD to address the post-implementation critical issues faced by businesses to ensure smooth transition to SST; and to mitigate the risk of non-compliance and heavy penalties for incorrect return 

At the end of the workshop, you will:

  • Learn GST to SST transition updates
  • Revisit the SST mechanism and legislations
  • Understand the SST Regulations and compliance issues 
  • Gain and understand Sales Tax Exemptions and how to apply for sales tax exemption certificate
  • Learn SST updates & the post-implementation issues

Who Should Attend

This workshop is suitable for:

  • Accounts Assistant
  • Accounts Executive
  • Chartered Accountant
  • Finance Manager
  • IT consultant / manager
  • Finance Director / Financial Controller / CFO
  • General manager / CEO / COO
  • Company Directors
  • Business owners

Programme Outline

GST to SST transition updates

  • DG’s issuance of tax invoice on or after 1/9/2018
  • DG’s decision on retention sum payment
  • Specific Guide on transition for goods and services as at 5 September 2018

SST Legislations updates and salient points

  • Revisit the SST concepts and mechanism
  • SST Regulations
    • Sales Tax Regulations 2018 – what are the regulations and schedules to comply?
    • Sales Tax (Customs Ruling) Regulations 2018 – how to apply and guide on Customs Ruling and related schedules
    • Sales Tax (Compounding of Offences) Regulations 2018 –compoundable offences, offer and acceptance of compounds
    • Sales Tax (Determination of sale value of Taxable Goods) Regulations 2018
    • Service Tax Regulations 2018 – what are the regulations and schedules to comply?
    • Service Tax (Customs Ruling) Regulations 2018 – how to apply and guide on Customs Ruling and related schedules
    • Sales Tax (Compounding of Offences) Regulations 2018 –compoundable offences, offer and acceptance of compounds
  • Sales Tax Exemptions and how to apply for sales tax exemption certificate
    • Sales Tax (Goods Exempted From Tax) Order 2018 (Proposed)
    • Sales Tax (Person Exempted From Payment Of Tax) Order 2018
    • Sales Tax (Exemption From Registration) Order 2018

Sales Tax Exemptions and how to apply for sales tax exemption certificate

  • Guide on Sales Tax rates  for various goods (based on Gazetted Orders)
  • Guide on Sales Tax Registration
  • Guide on manufacturing, import and export
  • Guide on Sales Tax Return (SST02), amendment and payment
  • DG’s declaration of importation by LMW

Service tax updates and implementation issues

  • Guide on Service Tax Registration
  • Guide on Service Tax Return (SST02), amendment and payment

Workshop Leader

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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