Budget 2024 Highlights, E-Invoice Mechanism and Updated Transfer Pricing Rules 2023

15 Mar, 2024, Remote Online Training - Public

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TAN KOK TEE DBA

MBA-Finance, FAIA, MIPA, MCCS, ACTIM,

International Accountant (UK),

Public Accountant (Aust.) Certified Company Secretary.

HRDF Certified Trainer

Registered GST Agent.

 

MR. TAN KOK TEE has 40 years of working experience in Accounts & Financial, Strategic and General Management field. He has held a variety of leadership and senior management roles in various organizations, starting in the Accounts & Finance Department until CFO level and the last being Group Chief Executive Officer. More than half of these times were spent in the Manufacturing, Marketing & Distribution and Services organizations.

 

He is a Fellow member of the Association of International Accountants, UK; Member of the Institute of Public Accountants, Aust.; Certified Commercial Accountant, (M); Member of the Chartered Tax Institute of Malaysia; Member of the Malaysia Associations of Company Secretaries (M) and a Gold Mastery Holder in Reinventing Strategic Planning and Management from the Haines Centre for Strategic Management, sponsored by University of San Diego, USA.

 

He is also a Certified Trainer with PMSB’s (HRDF) Train The Trainer Certificate since 2009, a GST Agent registered with MOF & Holder of the GST MyGCAP certificate from RMCD and a Life Member of the Malaysian Institute of Directors.

 

Mr. Tan has been involved in Advisory, Training and Facilitation since beginning 2009. To-date he has conducted about 400 training workshops throughout Malaysia on topics on Budgeting & Cashflow Planning; GST; SST; Practical Accounting for Accounting Staffs; Reading, Analysing and Interpreting Financial Statement; Accounting and Finance for Non-Finance Managers; Customers Credit Evaluations and Collection Strategies; Incoterms, LC Operations and Trade Financing; Reinventing the Strategic Planning and Management and Financial Statement Hands On Application to MBRS, for both in-house as well as public.

 

Among the organizations that Tan Kok Tee has been providing training for, include Government Authorities, Chamber of Commerce, Government Link Companies, Banks, Malaysian Institute of Accountants, Chartered Institute of Management Accountants, CPA Australia, Malaysian Institute of Chartered Secretaries and Administrators, Selangor State Human Resource Development Centre (SHRDC), Negeri Sembilan State Skills Development Centre (NSSDC), Penang Skill Development Centre (PSDC), NGOs and many others public training providers.

 

His other clients include Shin Yang Group, MIRI, Bintulu Port, Deleum Bhd., Boustead Plantation Bhd., Takahata, FBK Manufacturing, Brothers Industries, Integrated Logistics, Mega Logistics, Chung Hwa Picture Tubes, Ohara Melaka, Safran Aerospace, NEC Corp. of Malaysia, Kobe Precisions, Tecktronic & Sons Holdings, Julie’s Biscuits, Ornapaper Melaka, Sunway University, Sime Darby Properties, Lion Group and many more.

 

To-date Mr. Tan has trained more than 15,000 Executives. He combines a wide range of practical and hands-on training experience in lively and challenging interactive training sessions.

Venue Details

Remote Online Training - Public

Contact us

Juliany,
03 2283 6109
juliany@ipa.com.my

Phoebe,
03 2283 6100
phoebe@ipa.com.my 

FOR CUSTOMISED IN-HOUSE TRAINING
Jane,
03 2283 6101
Jane@ipa.com.my

ADDRESS 
A-28-5, 28th Floor, Menara UOA Bangsar, 
No.5, Jalan Bangsar Utama 1, 
59000 Kuala Lumpur
www.ipa.com.my

FOCUSING ON
  • 2024 Budgets Highlights
  • E-Invoice
    - Introduction
    - E-Invoice Mechanism
    - Understanding the guides issued by IRB
    - Application of E-Invoice for Accounting & Other Business Transactions
    - Actions to be taken to get ready for the implementation.
  • Transfer Pricing Rules 2023
INTRODUCTION

Every year the tax system goes through various changes focusing of the national objective for the budgeted year.

The application of E-invoice in billings of commercial activities and the capturing of cost in Accounting as announced by LHDN to be implemented in phases from August 2024 onwards, will also affect your daily Accounting and Invoicing Operation.

They need to know when to issue an E-Invoice to customers to capture the revenue, when to issue self-bill invoice to capture the cost, when suppliers are not required to issue E-invoice, etc. are all essential knowledge and skills that all staffs in the organization’s accounting and other departments, such as Sales, Purchasing, Human Resources, etc. will need to know and possess.

It is therefore essential that all the Accounting and other Operational function staffs, get equip with the E-Invoice mechanism in our daily Accounting and Business operation.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Increasing your understanding of the various tax and incentive updates introduced in the 2024 budget.
  2. Improving your tax planning effectiveness.
  3. Being equipped with the requirement of E-Invoice requirements in your day-to-day Accounting work.
WHO SHOULD ATTEND
  • Entrepreneurs, SME Business owners & Directors.
  • Company Secretaries and Secretarial Assistance
  • Other Corporate Non-Financial Managers
  • Accountants / Accounting Graduates,
  • Accounts Executives & Accounts Supervisors,
  • All other persons who are involved in and/or interested to learn and enhance their Basic Taxation knowledge for their business operations.
METHODOLOGY
  • Interactive Lectures
  • Discussion
  • Questions & Answers
COURSE CONTENT
9:00

2024 BUDGETS HIGHLIGHTS ON

  • Individuals
  • Business
  • Tax Incentives
  • Stamp Duties
  • Capital Gain Tax
  • Sales and Services Tax
  • Excise Duties
  • High Value Good Tax
  • Others
10.45

E-INVOICE

  • INTRODUCTION

- What is e-Invoice and its Scope of coverage?
- What transaction type does E-Invoice cover?
- Parties Exempted

  • E-INVOICE MECHANISM

- E-Invoice mechanism and flowchart under:
- IRB’s MyInvois model
- Application Program Integration (API) model

  • UNDERSTANDING THE GUIDES ISSUED BY IRB:

- E-Invoice General Guide
- E-Invoice Specific Guide
- Other FAQ from IRB
- Information to be shown in the E-Invoice:
• Compulsory information
• Non-compulsory information

 

 

1:00 Lunch
2:00

E-INVOICE

  • APPLICATION OF E-INVOICE FOR ACCOUNTING & OTHER BUSINESS TRANSACTIONS

- Reimbursement and Disbursements,
- Penalties
- Employment Perquisites and Benefits
- Importation of goods and services
- Rental or Expenditure incurred from parties exempted from e-Invoice.
- Commission payments to Agents, Dealers, Distributors (ADD)
- Interest received from Financial Institutions

  • ACTIONS TO BE TAKEN TO GET READY FOR THE IMPLEMENTATION.
3:45

TRANSFER PRICING RULES 2023

  • Definition of Arms-length
  • Meaning of Contemporaneous on TP Documentation
  • Updating Requirements
  • Comparison Periods
  • Others.
5:00 End of Course