GST: Preparing for the perfect storm on 1 January 2023

Date:

12 October 2022, Wednesday

Time:

09.15AM - 12.00PM

Venue:

The Westin (In-person)

12 Marina View, Asia Square Tower 2

Singapore 018961

Details/ Promotion:

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Contact:

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Programme Synopsis

1 January 2023 will bring about a number of Goods and Services Tax (GST) changes, including the GST rate increase. Our briefing is aimed at breaking down the new rules that will come into force on 1 January 2023.

The session will cover several aspects of the rate change from 7% to 8%, including the transitional rules that businesses will need to know to avoid penalties for applying the incorrect rate to transactions that span the rate change date. We will walk through various scenarios and how the transitional rules apply to each of them. We will also cover the considerations and planning that businesses need to keep in mind when preparing for the GST rate increase.

We will also look at the other changes on 1 January 2023 - namely the expansion of GST to Business-to-Consumer remote services and low value goods, and the change in GST treatment of travel arranging services.

Programme Outline

Understanding the transitional rules
Preparing for the GST rate increase
Other GST changes starting 1 January 2023
- B2C imported services
- Low-value goods
- Travel arranging services

About the Presenter(s)/ Trainer(s)

Mr Koh Soo How
Partner, Indirect Tax
Grant Thornton Singapore
Accredited Tax Advisor (GST)

Soo How leads Grant Thornton Singapore’s GST practice and has comprehensive knowledge and experience in indirect tax. He started his career in indirect tax with the IRAS as a senior member of the core team that introduced the GST in Singapore in 1994.

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