Embracing E-Invoicing: A Game Changer for all businesses (big and small) in Malaysia.

In this course, we will cover E-Invoicing in Malaysia: An overview of the recent E-Invoice Guideline / specific guides IRB catalogue (Oct 2023) / specific industries FAQ / SDK ( 7.2.2024) issued by the Inland Revenue Board of Malaysia (IRB) and its implications.

Staged Implementation: A detailed look at the timeline from Aug 2024 to July 2025 for the phased implementation of E-Invoicing, based on the annual turnover or revenue of taxpayers.

Choosing Your E-Invoicing Model: Guidance on selecting the most suitable E-Invoice transmission mechanism for your business, whether it’s the MyInvois Portal or an Application Programming Interface (API).

Impact on SMEs: Understand how E-Invoicing can streamline your financial reporting and increase tax revenue. As you are aware the tax provisions in E-Invoicing have been passed as law with effect from 1.1.2024. Any non-compliance of the law can be meted with fines or imprisonment or both.

Benefits of E-Invoicing: Learn how E-Invoicing aligns with the objectives of the Twelfth Malaysia Plan to strengthen digital services infrastructure and digitalize tax administration.

Challenges and Solutions: We’ll discuss the challenges businesses face in this process change and how to navigate these challenges.

1. Sharing Relevant Laws, Regulations, Guides, FAQ on specific industries, and catalogues issued by the Inland Revenue Board (IRB)
   in Malaysia related to E-Invoicing. This
   is including documents outlining Compliance Requirements, Tax Implications and Standards
   for E-Invoicing.
2. Sharing information regarding the legal aspects of E-Invoicing – walkthrough the requirements under the Income Tax Act
   and Companies Act and Service Tax Act and Sales Tax Act.
3. Conducting brainstorming sessions with the participants to ensure they are fully equipped with the above understanding and
   are able to start the implementation of E-Invoicing appropriately in the respective businesses.
4. Facilitating discussions to ensure participants understand the legal framework and
   guidelines provided by the IRB.
5. Exploring how E-Invoicing can be seamlessly integrated into existing business processes, walking through the two methods of creating E-Invoice as proposed by IRB and what are the key considerations for the readiness of then accounting system.
6. Case Studies on creating E-Invoice / Self billed E-Invoice / Employee claims for business.
7. Outlining of the key tasks to carry out the process change for the company.

After Attending This Course, participants will be aware of the concept and the requirements to comply with E-Invoice implementation in Malaysia. They will understand the tasks needed to implement E-Invoice adequately within the deadline imposed by IRB.

• Accountants, Accounts and Finance Personnel
  
• Business Owners and Directors
  
• Other Functional Managers, Executives, and Staff (Sales, Purchasing, HR, IT, etc.)
  
• Company Secretaries and Secretarial Assistants
  
• Anyone wanting to learn about e-invoice mechanism implementation