D&T Hosts Special Workshop on Goods and Services Tax | Articles | Newspaper article | Business article | Health article | Free article | News article

Home > Finance > Taxes > D&T Hosts Special Workshop on Goods and Services Tax

D&T Hosts Special Workshop on Goods and Services Tax

The said workshop is a one-day event and will be held on the 20th of July 2006 between 9:00 in the morning and 5:00 in the evening. It will be held at the Grand Plaza Parkroyal Hotel on 10 Coleman Street in Singapore.

GST has had a life of more than 10 years in Singapore but there are still some GST collectors who have to pay penalties to the IRAS for miscalculation of taxes in the form of less output tax or more input tax. The aforementioned IRAS Annual Report also shows that the GST and the amassed penalty amounts to S$ 117 million from 2,820 cases.

People who have been following the GST returns techniques assumed by other people prior to them will find this workshop extremely useful, as the techniques that they are adhering to may not be correct.

The sessions that this workshop will outline covers a vast area of the Goods and Services Tax system. The first half of the workshop will concentrate on topics like the fundamentals of GST, comparison between goods and services, value of goods and services, time of supply in the form of goods and services and place of supply in the form of goods and services. The session will also deal with subsequent benefits through "blocked" input tax and "deemed" output tax, comparison between reimbursements and disbursements and several case studies, realistic instances and common difficulties.

The latter session will revolve around other topics relevant to GST. These topics will include the likes of valuation concerns and import of commodities, export documents and export of commodities, import of commodities for a person staying abroad, grants and sponsorships, issues of zero-rating and "international services" and the retrieval of input tax, obstacles, case studies and real models related to these areas. This session will also provide the updates and latest news regarding Goods and Services Tax. Through the efforts of Deloitte, Big Four firms will make an impact not only on the GST system in Singapore, but on the global tax scenario.

Article Source: http://global-in-arm.com/

Please Rate this Article