Service Tax Act 2018

Course Objectives

• Understand Service Tax scope
• Understand what is the mechanism
• Know what are the exempted sales and services
• Consequences on Costing, Pricing and Invoicing
• Know the taxable period and Returns

Target Audience

Business entrepreneurs, directors, proprietors, tax agents, company tax executives and accountants, sales managers, purchasing managers, all accounting staff.

Methodology

Power-point presentation, participant’s interaction, questions and answers

Course Modules

What is SST?

• Service Tax?

Scope of Service Tax

• Which business taxable
• Rates for service tax

Registration & Licensing

• Who should register?
• The procedures

Threshold

• Mandatory, compulsory, voluntary quantum for registration

Taxable rates

• Rates for service tax

Types of businesses services exempted

• Taxable services
• exempt businesses

Treatment of Service Tax in Labuan, Langkawi, Tioman, Pangkor

• How and what are the consideration for these Designated Areas?

Formerly LMW status businesses

• What’s the law and procedures for LMWs?

Imports

• Importation of services

Exports

• Export of services

Service Tax accounting (invoices, debit notes, credit notes)

• Documentation
• Accountability
• Responsibility

SST Return

• How to deal with RMCD Return

Penalties

• Types of errors and fraud
• Variable rates for offenses

Cash flow management

• Consequences of accruals basis of accounting

Audit

• Types of audit

Appeal

• What recourse tax payers have on assessment, bill of demand?

Anti-Profiteering Regulations

• What businesses should be aware of
• Powers of government

Penalties