Synopsis

GST has already been implemented for close to three decades by now, and yet many GST traders are still making many mistakes. This class aims to refresh you on your knowledge of key GST concepts that will help you avoid potential costly mistakes.

Gain the essential knowledge of GST concepts, rules and regulations in Singapore. This training will guide you through potential pitfalls and common GST issues that may arise in almost every business transaction. Avoid costly penalties that can hurt your bottom line by ensuring that you have a solid understanding of GST rules and regulations. 

Outline

This session will include:

  • Quick refresher on key concepts of GST
  • Claiming Input Tax Credits
  • GST Treatment for Fringe Benefits 
  • Zero-rated Supplies 
  • GST Errors and how to deal with them
  • GST ASK and ACAP Schemes
  • Latest GST updates including customer accounting and new registration rules
  • Reverse Charge and Overseas Vendor Registration

ACCA Singapore CPD Subsidy

ACCA Singapore is currently offering a special subsidy to active members, affiliates and students to support them in their professional development. This offer is available on selected courses here and on a limited basis. Terms and conditions apply. 

CPD Units

Your full attendance to this course will accord you with 7.0 CPD units (ACRA Category: Others). A CPD certificate will be emailed to you within 3 business days after the completion of the course.

Speaker

Simon Poh
Simon Poh is currently Associate Professor (Practice) at the Accounting Department of the National University of Singapore (NUS) Business School where he teaches taxation and advanced taxation modules. This is a full-time employment from 1 July 2014. Previously, he was Associate Professor (Adjunct) from 1 January 2007 to 30 June 2014. He recently won the NUS Business School Teaching Excellence Awards for 2020 and 2021.

Outside the academia, Simon has been a distinguished tax professional both in Singapore and the region, with more than three decades of experience in tax compliance and tax advisory work in the areas of corporate tax, individual income tax and GST. This includes 9 years of experience with the Inland Revenue Authority of Singapore, 3 years with reputable regional multinational corporations and more than 16 years with top international accounting firms. His extensive experience includes GST tax advisory and risk management, international tax planning, transfer pricing, corporate restructuring, business acquisitions and mergers, tax due diligence reviews, expatriate tax planning, and advising clients on the tax implications of both inbound and outbound investments. Simon continues to be active in professional tax-related work outside his teaching responsibilities.

Simon graduated with a Bachelor of Accountancy Degree in 1985 followed by a Master of Business Administration (MBA) degree from NUS in 1993. He is a Fellow Chartered Accountant of the Institute of Singapore Chartered Accountants (ISCA) since 2004, an ASEAN CPA since 2017, a Full Member of the Singapore Institute of Directors since 2008, an Accredited Tax Advisor (Income Tax and GST) of the Singapore Institute of Accredited Tax Professionals (SIATP) since 2010 and an Honorary Member of the Financial Planning Association of Singapore since 2011. SIATP was renamed Singapore Chartered Tax Professionals Limited (SCTP) from April 2020. At SIATP/SCTP, he served/serves as Chairman of the SME Tax Committee since 2012. Simon also served as a Board Member of SIATP from January 2013 to March 2020. In July 2021, he was appointed as a Member of the Income Tax Board of Review, an administrative tribunal established for the purpose of hearing appeals against income tax assessments made by the Comptroller of Income Tax. Simon has been acting as Examiner for tax modules offered in professional accountancy examinations since 2006. He is the author of "Taxation in Singapore" which was first published in 2008. In August 2020, he published the latest electronic edition of this book.

Besides speaking at numerous external tax seminars and conducting regular tax workshops for professional bodies like ISCA and ACCA, Simon is a regular contributor to local and foreign media and professional journals on current taxation issues. In addition, he currently serves as an Independent Director and Chairman of the Audit Committee of a company listed on the Main Board of the Singapore Exchange (SGX).