Service Tax

Course Objectives

Service tax in Malaysia is a form of indirect single stage tax imposed on specified services termed as “taxable services”. Service tax cannot be levied on any service which is not included in the list of taxable services prescribed by the Minister under First Schedule of the Service Tax Regulations 2018.

Target Audience

Finance & Accounting Managers & Executives
Tax & Audit Directors, Managers & Executives
CFOs, Finance Directors, Financial Controllers
Accountants & Auditors
Finance, Accounting & Tax Officers
Company Directors & Senior Management

Methodology

A highly interactive learning session with trainer/speaker-led
Facilitation, live Q&As and mini case studies

Course Modules

Module 1 – Service Tax Concepts, Computation & Returns
• Imposition and scope of Service Tax
• New sectors liable to Service Tax
• When is service tax due?
• Impact on Invoice / Credit Notes / Debit notes
• Bad Debt Refund
• Deduction of service tax
• Designated Areas & Special Areas
• Preparing the SST-02 Return for Service Tax

Module 2 – Persons / Services Exempted From Service Tax
• Taxable persons and taxable services exempted
• Analysis of Group G, First Schedule
• Group G: Item 1 – 9
• Exclusion of Item 10 and 11
• Analysis of Item 8, Group I, First Schedule
• Provision of the exempted services
• Issuance of invoice
• Computation of service tax
• Record-keeping for a Service Tax Audit

Module 3 – Understanding “Imported” Taxable Services
• Meaning of imported taxable service
• Imported taxable services in 2020
• Service tax on imported taxable services
• Value of imported taxable service
• Imported taxable service – when is service tax due?
• Computation of service tax
• Connected persons and imported taxable service
• Imported taxable service and the SST-02 Return
• Record-keeping for imported taxable service

Module 4 – Understanding Amendments to The Service Tax Act (Effective 1 January 2020)
• Analysis of amendments – within / outside Malaysia
• Foreign registered person & Foreign service provider
• Tax on Digital Services & Value of Digital Services
• Registration of Foreign Service provider
• Issuance of invoice
• Taxable Period, payment of tax, duty to keep records

Module 5 – Latest Updates on Service Tax (2020-2022)
• Latest Budget 2022 announcements
• Revision & New Service Tax guides
• Development in Digital Taxation