GST: Managing Your Compliance Risks throughout the GST Journey


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Date:
22 April 2021, Thursday

Time:
09.00AM - 05.00PM
Venue:
60 Cecil Street, ISCA House, Singapore 049709

Details/ Promotion:
Please click here for more details and here for the registration form. 
Accredited tax professionals enjoy members' rate!
Contact:
Please refer to organiser’s webpage here.
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Programme Synopsis

2019 marks the 25th year of GST implementation in Singapore. Being a newly GST-registered business, you certainly wish to have smooth sailing throughout your GST journey. Even if you have started your GST journey for years, there are compliance risks that you might have overlooked. Not being selected for GST audit in the past is not an endorsement of your GST compliance.
 
Digitalisation will enable tax administrations to deliver efficient and effective services to the taxpayers through online services. By leveraging on advanced technology, tax authorities have enhanced their capabilities to validate compliance in manifolds.  This aims to influence taxpayers’ behaviour, from unaware or negligent to be compliant of the tax rules. With the launch of Smart Nation in 2014, Singapore is transforming through technology. It is no doubt that IRAS will embark on a fast track digitalisation, heading towards the direction of e-Compliance. The “privilege” of “free from GST audit” would no longer be enjoyed by many GST businesses that they used to.
 
Against this background, and in the light of IRAS’s pull and push approach for businesses to self-manage GST risks, you should at least be aware of how to better prepare and defend yourselves with adequate knowledge to stay ahead of this situation. 
 
This practical workshop aims to provide useful pointers with case studies to enhance the competencies of both businesses and tax professionals in performing the respective roles in the areas of technical applications as well as compliance review.

Programme Outline

Managing compliance risks arise from incorrect GST applications in the area of:
  • Registration 
  • Business, Persons and Supply
  • Removal and Exports
  • Domestic and International Services
  • Relief and Exemption
  • Output Tax and Input Tax
  • Obligations and Entitlements
  • Tax Planning and Tax Avoidance
           
A working model along the value chain to secure GST risks
  • Re-alignment of structure
  • Deployment of applicable tools 
  • Setting up documentation, review, and monitoring processes embedded with controls

About the Presenter(s)/ Trainer(s)


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Mrs Eng Li Ming
Accredited Tax Advisor (GST)
 


Li Ming is an Accredited Tax Advisor (GST) of The Singapore Chartered Tax Professionals (SCTP). She customizes GST compliance review and offers consultancy services for businesses, local CPA firms and foreign tax administrations. The personalized programmes for tax administrations have benefited various tax offices in China, Brunei-Ministry of Finance, Maldives Inland Revenue Authority, The Seychelles Tax Administration,  Royal Malaysian Customs Department (“RMCD’), some African countries, Oman-Customs, and India.  Also, she conducts practical workshops (e.g., for Institute of Singapore Chartered Accountants) or structured training programmes (e.g., for Tax Academy) in the GST areas that she specializes in.
 
Before 2012, Li Ming was a Tax Director in the Inland Revenue Authority of Singapore (IRAS). She is one of the pioneers personally and actively engaged in preparing for Singapore’s “non-event” GST implementation. In the last two decades, she contributed significantly to the GST administration, improving business friendliness and operational efficiency. These are reflected in resolving technical issues and dealing with GST rulings, initiating and implementing GST policy changes for the various sectors, including manufacturing, real estate, telecommunications, logistics, and the financial industries.
 
On the compliance front, she was personally involved in developing two compliance programmes designed explicitly by IRAS to facilitate voluntary compliance - Assisted Self-help Kit (ASK) and Assisted Compliance Assurance Programme (ACAP). Such programmes were successfully launched and have been well-received by GST-registered businesses.









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