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Archives Events • 2020-07-16

PKF Free Webinar - 1st Series



10 am – 11.30 am
July 21, 2020
Microsoft Teams LIVE Webinar

This Webinar will provide companies with practical guidance on tax savings during COVID-19 and to update on final amendments of the GST return. Business expenses incurred as a result of COVID-19 that are not eligible for tax deduction will add on to the cost of doing business. It is therefore very important to understand the type of expenses that are eligible for tax deduction and plan ahead especially during the current economic climate. It is extremely beneficial for companies to attend this webinar to explore various tax treatments on deduction of expenses unlikely to be incurred and the requirement to maintain proper supporting documents which is critical in surviving a tax audit.

Programme outline
Tax saving strategies during COVID-19: -
- Impairment loss on trade receivables and bad debts written off on trade receivables
- Waiver of debts
- Compensation paid to employees for loss of office
- 7 years Provision for stock obsolescence and stock written off
- Timeline on carry forward business losses
- New definition of SME for year of assessment 2020
- Special deduction on the cost of renovation of business premises

Final amendments of the GST return: -
- Final amendment of the GST return
- The Dos and Don'ts of making amendments

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Registration Link:

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