SST was implemented on 1st September 2018 and your business should have submitted a few SST returns to customs. The SST impact on businesses can be major if you are not well prepared to ensure your business activities are SST compliant. Businesses should start reviewing their return because SST is a transaction base and self- compliance tax system and heavy penalty imposed upon failure to comply with the rules and regulation.
Lately, even for businesses who are NOT registered with SST, you may also need to comply with the rules and regulations, e.g. vendor (agent) who purchase materials on behalf of a registered manufacturer will need to apply for Schedule C item 3 from customs in order to get exemptions from sales tax. Furthermore, customs will carry out SST audit in near future to ensure good compliance by the SST registrants.
Brochure
— Course Fee: RM 1,080.00 (Inclusive of 8% Service Tax) —
- Module 1.1: Sales Tax & Service Tax (SST) Legislation
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- SST legislation
- Six types of audits
- Module 1.2: SST Audit
- Introduction of SST compliance audit framework
- Customs’ audit objectives and why it is important for customs?
- Legislation provision for the audit process
- Which customs department will carry out the SST audit and their right to visit your premise
- How much time required by customs to perform the audit?
- Which taxable period will be selected for audit?
- Are all Business entities who registered with SST be subject to audit? Any selection criteria, like risk assessment by customs?
- Will SST audit lead to other issues? E.g. Customs Act 1967
- How audit will be carry out and what are the supporting documents required?
- Auditee’s rights and responsibilities during the audit
- Private and confidential of the information provided to customs department
- Customs power to assess
- Module 1.3: Post customs audit field work
- Queries and more supporting document required
- Round Table Discussion (RTD), objective of RTD and registrant’s right during RTD, e.g. should you bring your consultant along?
- Module 1.4: Hot areas which will be audited for sales tax
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- Usage of tariff code, especially goods under exemption. How to mitigate the risk of using the wrong tariff code?
- Presentation of supporting document, e.g. issuance of invoice, Credit Note/ Debit Note
- Module 1.5 Other Types of audit
- Sales tax valuation, to determine the value of goods for own use and goods disposed of
- Refund/ drawback claims, JKDM No.2 (Pinn. 1/2018), Lampiran J – P.T.K. BIL 14
- Module 1.6: Appeal process
- Appeal to Director General (DG)
- Customs appeal tribunal
- Appeal to MOF/ minister
- Legal proceeding, e.g. judicial review
- Module 1.7: Exemption Report Preparation
- What are the sales tax exemption reports need to submit to customs? E.g. Laporan CJ(P) Jadual A/ Jadual B/ Jadual C.
- Shall the SST registrant voluntarily declare for non-compliance of sales tax exemption (Breach of Exemption Conditions (Lampiran 1), will customs penalty be waived if we do so?
- Check list prepare by consultant and periodic internal check carry out by knowledgeable person to determine non-compliance
- Q & A