This is a one-day workshop covering two distinct and topical GST topics: GST treatment on International Services in the morning (AM) and GST treatment on Recovery of Expenses in the afternoon (PM).
Zero-rating of international services is one of the more challenging areas of GST. Companies may only zero-rate their supply of services if it falls within the description of international services under Section 21(3) of the GST Act.
Additionally, understanding the differences between reimbursements and disbursements is essential as they are treated very differently for GST reporting purposes.
This practical workshop will use practical scenarios, case studies and examples to reinforce your understanding of the correct GST treatment on international services and recovery of expenses for GST reporting purposes, and therefore, avoid costly penalties.
A Highlight of Key Areas:
AM Session: 9am-12.30pm
- Determining the belonging status of customers
- Clarification on “directly in connection with” and “directly benefit”
- Misconceptions
- List of services and their conditions
- Examples and illustration
- Avoiding the mistakes commonly made in applying zero-rating
- Recent updates
Q&A
PM Session: 1.30pm-5.00pm
- Difference between reimbursement and disbursement
- Are you acting as a principal or an agent?
- Indicators for determining the principal or agent relationship
- Recovery of expenses which is ancillary to a primary supply
- Recovery of expenses which is separate and not ancillary to any primary supply
- Recovery of expenses at costs or with a mark-up – is there a difference?
Q&A