Responsive image

GST Treatment for Recovery of Expenses – Reimbursement and Disbursement

Getting it Right and Avoiding the Pitfalls

Expert Speaker Catherine Chiang

$642.00 (including GST)

Download
Brochure

EARLY BIRD SPECIAL: Save 10% when you register by 15 Mar 2019. Use code MAR19 at checkout.

Overview

Understanding the differences between reimbursements and disbursements is essential as they are treated very differently for GST reporting purposes. The incorrect treatment could result in underpayment of GST and possible imposition of penalties.

 

Reimbursements and disbursements are often reviewed by IRAS during any audit process. The updated e-Tax Guide issued by IRAS on the 9th of February 2018 provides guidance on the GST Reimbursement and Disbursement of Expenses. GST-Registered Businesses are expected to have a sound understanding of the rules to determine the correct GST treatment.

 

This workshop is designed specifically to give accountants and tax professionals a better clarity and understanding on the GST treatment of reimbursement and disbursement. Through the use of practical scenarios, exercises and case studies, this workshop will provide in-depth insights to determining the right treatment of GST for the recovery of expenses.

 

What You Will Learn

At the end of this workshop, you will:

  • Find out how to establish whether the recovery of expense is a reimbursement or disbursement
  • Be able to ascertain the agent-principal relationship, differentiate between reimbursement and disbursement, and ascertain the GST treatment for the recovery of expenses
  • Minimise the possibility of costly penalties by ensuring the accuracy of your GST recovery of expenses/claims

 

Programme Outline

  • Difference Between Reimbursement And Disbursement
    • Are You An Agent Or A Principal?
    • Taxable Supply And Non-Taxable Supply
    • Typical Reimbursement Scenario
    • Typical Disbursement Scenario 
  • Determining Agent-Principal Relationship: The Indicators

  • Recovery Of Expenses Which Is Ancillary To A Primary Supply

  • Recovery Of Expenses Which Is Separate And Not Ancillary To Any Primary Supply

  • Recovery At Costs Or With Mark-Up: Is There A Difference?

  • Updates and amendments in the IRAS e-Tax Guide on GST Reimbursement and Disbursement of Expenses

Expert Speaker

Catherine Chiang is a Senior Consultant (GST) in Consul Biz Consultancy Services. She has previously spent 6 years in the IRAS, handling GST and Income Tax audit and almost 10 years with 2 of the Big Four international accounting firms, specialising in GST compliance and advisory work. During this period, she has accumulated extensive experience in performing GST prudential reviews, GST consultancy, GST compliance, GST audits and GST training for clients. Catherine has a Bachelor of Accountancy (Honours) degree from the National University of Singapore. She is an Accredited Tax Advisor (GST) registered with the Singapore Institute of Accredited Tax Professionals and a member of the Institute of Singapore Chartered Accountants. Catherine is also an ACTA certified Trainer.

 

Enquiries: 6211 3935; amy.wong@wolterskluwer.com / 6211 3939; sandi.teoh@wolterskluwer.com  

Other events you may be interested in...

Prices shown are in SGD and inclusive of 7% GST but do not include handling & shipping (if applicable)
Copyright © 2016 Wolters Kluwer