GST Course On Logistic Industry

Course Dates:

25 & 26 Sept 2017

Course Specifications

Course length: 2.0 day(s)

Course Description:

As ASEAN Economic Community (AEC) ramp up its regional economic integration by 2015, it envisages through integrating industries across the region to promote regional sourcing; and enhancing private sector involvement for the building of its identity.

End state in mind, the AEC aim to transform ASEAN into a region with free movement of goods, services, investment, skilled labour, and free flow of capital. At this junction, it is inevitable to know what current GST Application entail for the logistic industry. With such essential current knowledge Management, the transition to AEC code of governances will be more smooth sailing, henceforth facilitating logistic market players to react more swiftly for future sustainable business.

Course Objective:

Upon completion of this workshop, participants will be able to:

  • Explain the GST principles relevant to the logistics service industry
  • Clarify the GST treatment on some of the more common services provided by businesses in the logistics service industry.
  • Appreciate the cash flow burden of the local industry players and the GST schemes available to alleviate such burden in a bid to improve these players’ international competitiveness.
  • Understand its responsibilities for operating under these schemes and the requirements needed to fulfil.

Target Audience:

Logistic professionals whom deal with GST directly via the nature of Administrator roles.

Logistic professionals whom deal with GST directly via the nature of Operational roles.

Course Content

Lesson 1:  Concepts & Applications

  • Supply & Imposition of Tax
  • Input Tax Recovery
  • Agent Principal Relationship 2. Over view of the logistic industry 

Lesson 2: Overview of the Logistic Industry

  • Segmentation
  • Challenges faced by the industry
  • Issues in the Industry
  • GST Implications
  • Zero Rating of Logistic Service Transportation, Handling & Storage Services
  • GST Solution for the Industry

Lesson 3: Local & International Transportation

Lesson 4: Handling Services within Singapore/ outside Free Trade Zones

Lesson 5: Storage Services within Singapore/ outside Free Trade Zones

Lesson 6: Illustration on the GST Treatment of the logistic Services

Lesson 7: Waiver of GST for Goods removed from Bonded Warehouse by MES Trader Scheme

Lesson 8: Zero-rating of container services and the sale and lease of containers

Lesson 9: Approved Third Party Logistics Company Scheme (“A3PL Scheme”)

Lesson 10: GST Remission to Freight Forwarder

Lesson 11: Filing of GST Return

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