E-Invoicing Implementation in Malaysia: SMEs must know

18-19 Nov, 2024, Wyndham Grand Bangsar Kuala Lumpur

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Dr Wendy Tee has over fifteen years of experience in senior management and human resources positions for diversified industrial and business environments. Graduated with a Doctor of Business Administration (UUM), Master of Business Administration (UM), Master of Information Technology (UM), Certified Financial Planner (CFP), Certified Business Coach (UM), Registered Financial Planner (RFP), Certified Trainer (PSMB) and Certified Advance Human Resource Practitioner (MIHRM), she has undergone intensive academic training in various human development and knowledge improvement. As a trainer, speaker and consultant, Dr Wendy had spent hundreds of hours in training, speaking and conducting training related to personal development and performance management over the years. Her training sessions are enhanced with trainees getting exposure to personal development, improve service productivity and performance toward productivity. She commits herself towards creating results in personal excellence and inspiring people to do their best at whatever they do. Her vast experience and exposure in different industry has given her an in depth understanding training and development needs which she delivers with passion, performance, positive, integrity and energetic .
 
Dr Wendy is actively involved in management consultancy, management training and research. Her latest responsibility involves the business coaching, financial training, management consultancy, Accounting and Financial lecturing of Degree programs for Kolej Universiti Tunku Abdul Rahman . She has experience managing training programs covering from local universities, in house training and public seminar training, from designing training needs assessment, developing training materials, monitoring and tracking of training programs successfulness and implementing training evaluation. Having been trained as a qualified trainer, her skill and knowledge has been enhanced in operations effectives, fitness analysis, gap analysis and needs assessments.
 
Dr Wendy is also a Human Resource consultant and certified trainer now appointed from Harrison Assessment Talent solutions (HATS), Pembangunan Sumber Manuasia Berhad (PSMB) and National Human Resources Centre (NHRC), providing comprehensive and independent Human Resource advisory to clients. In addition to consulting with and servicing clients, she is responsible for HR assessment, HR training, coaching & advisory for the company.
 
Dr Wendy completed and passed her GST and SST exams organized by Chartered Tax Institute of Malaysia (CTIM) with the cooperation and support from the Royal Malaysian Customs Department (RMC). She has trained more than 75 SME companies in Malaysia for getting prepared on the post implementation of GST and SST, mainly dealing with the tax authorities over various indirect tax issues, elements and scope of indirect tax, cycle and operations, rulings, registration, administration, audit and investigations on behalf of her clients

Venue Details

Wyndham Grand Bangsar Kuala Lumpur
1, Jalan Pantai Jaya Tower 3, Kuala Lumpur, 59200 MY,
Phone : +60322981888

https://wyndhamgrand bangsarkl.com.my/

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
  • Module 1: Budget 2024 Intensive Updates
  • Module 2: Introduction of E-Invoice
  • Module 3: E-Invoice Model via MyInvois Portal
  • Module 4: E-Invoice Model via API
  • Module 5: Understanding of E-Invoice Transaction Changes
  • Module 6: Managing Risk, Tax Audits, Data Security and Privacy Monitoring of E Invoicing
  • Module 7: Tax Compliance with The Digital Era Insights Into Malaysia’s New Section’s New Sections 82B and 82C
  • Module 8: Assessing Readiness of E-Invoice
  • Module 9: Frequency Asked Questions and Updated Industry Guide
INTRODUCTION

The 2024 budget for Malaysia is the largest in its history, amounting to RM393.8 billion. It comprises RM303.8 billion for operating expenses and RM90 billion for development expenditures. This budget was developed based on the Madani economic framework, with the theme of ‘Economic Reforms, Empowering the Rakyat.’ Its primary objectives are to stimulate economic activity, attract higher foreign and domestic investments, and enhance the well-being of Malaysians, especially those in the lower-income bracket. The proposed tax measures are designed to boost government revenue and promote new investments and reinvestments.

 

On 22 May 2023, the Malaysian Inland Revenue Board (IRB) formally announced that they are targeting 4,000 businesses for the first stage of the new electronic invoicing (E-Invoice) system. This is a mandatory enforcement for businesses that reach a sales threshold of RM100m per year. Implementation is slated to commence in August 2024. While we await the IRB’s guidelines, we share our understanding of what will potentially be required for Malaysia’s E-Invoicing platform and the implementation plans based on our interactions with Inland Revenue Board (IRB). We will also share some points to consider in your preparation for your E-Invoicing journey.

 

This course concentrates on three primary areas: latest 2024 tax updates, E-Invoicing, SMEs Grants and Financing, and Tax Saving Strategies. We will thoroughly examine their potential impacts on both businesses and individuals. It’s essential to grasp these aspects in advance, allowing you and your company to make strategic preparations and necessary adaptations in the upcoming year.

AFTER ATTENDING THIS COURSE YOU WILL RETURN TO YOUR JOB…
  1. Understanding 2024 various tax latest updated.
  2. Providing participants with a foundational understanding of Malaysia’s E-Invoice system, its scope and its implications for businesses and taxpayers.
  3. Recognizing the potential accounting, information technology and tax issues
    that businesses may encounter before and during the implementation of the E-Invoice
    system.
  4. Understanding the differences between E-Invoice models.
  5. Understanding the E-Invoice transaction changes.
  6. Developing an action plan for the implementation of the E-Invoicing system.
  7. Assessing readiness of E-Invoice implementation in the company.
WHO SHOULD ATTEND
This course is designed for employees,Directors, CEO,COO,CFOs,Financial Controllers, Accountants, IT Managers, Accounts Managers, Directors, Self-Employed or Business Partners who are interested understanding of Malaysia’s E-Invoice system, its scope and its implications for businesses and taxpayers.
METHODOLOGY
Interactive lectures, practical exercises & discussion on all relevant aspects and implementation of E-Invoicing to ensure participants grasp clearly aspects presented.
DAY 1
9:00

MODULE 1 - BUDGET 2024 INTENSIVE UPDATES

  • Budget 2024 Overview
  • Selected Budget 2024 that impacting SMEs
  • Introduction to Low Value Goods Tax
  • Introduction to High Value Goods Tax
  • Increase in Service Tax Rates
  • Selected Budget 2024 components that impacting individuals


10.45

MODULE 2: INTRODUCTION OF E-INVOICE

  • About E-Invoice
  • Recent developments and key trends of E-Invoicing
  • Concept of PEPPOL
  • Benefits of adopting E-Invoice
  • Transaction types
  • Scenarios and types of E-Invoices
  • E-Invoice implementation timeline
  • Exemptions from implementation E-Invoice
  • E-Invoice overview workflow
  • E-Invoice modelling
  • E-Invoice guideline
1:00 Lunch
2:00

MODULE 3: E-INVOICE MODEL VIA MYINVOIS PORTAL

  • Pre-Submission – E-Invoice Submission Requirements
  • Step 1 – Creation and Submission
  • Step 2 – E-Invoice Validation
  • Step 3 – Notification
  • Step 4 – Sharing of E-Invoice
  • Step 5, 6 and 7 – Rejection or Cancellation
  • Step 8 – Storing e-Invoices
  • Step 9 – Reporting and Dashboard Services for Taxpayers
3:45

MODULE 4 : E-INVOICE MODEL VIA API

  • Pre-Submission – E-Invoice Submission Requirements
  • Step 1 – Submission
  • Step 2 – E-Invoice Validation
  • Step 3 – Notification
  • Step 4 – Sharing of E-Invoice
  • Step 5, 6 and 7 – Rejection and Cancellation
  • Step 8 – Storing E-Invoices
  • Step 9 – Reporting and Dashboards Services for Taxpayer
  • Software Development Kit (SDK)
5:00 End of Day 1
DAY 2
9:00

MODULE 5 :UNDERSTANDING OF E-INVOICE TRANSACTION CHANGES

  • Transaction with buyers
  • Statements or bills on a period basis
  • Disbursement or Reimbursement
  • Employment perquisites and benefits
  • Certain expenses incurred by employee on behalf of the employer
  • Self billed E-Invoice
  • Transactions which involve payments
    in monetary form to agents, dealers or distributors
  • Cross boarder transaction
  • Profit distribution
  • Foreign income
  • Currency exchange rate
10.45

MODULE 6: MANAGING RISK, TAX AUDITS, DATA SECURITY AND
PRIVACY MONITORING OF E-INVOICING

  • E- Invoicing: Preparing for digital reporting
  • Managing risk and tax audits
  • What are the big risks businesses will need to consider when implementing
    E-Invoicing
  • Which parts of business operations need to work together to ensure the
    seamless administration of e Invoicing?
  • What is the expanded/new set of internal controls that need to be in place
    to reduce organizational compliance risks?
  • How can technology be leveraged to be able to manage and comply with the new requirements, and anticipate tax risks deriving from e Invoices
12.00

MODULE 7: TAX COMPLIANCE WITH THE DIGITAL ERA INSIGHTS
INTO MALAYSIA’S NEW SECTION’S NEW SECTIONS 82B AND 82C

  • Finance (No 2) Bill 2023 proposes new sections 82B and 82C
  • Section 82B Duty to provide information and furnish documents for ascertaining
    chargeable income and tax payable
  • Section 82C Duty to issue electronic invoice
  • Overview and tax impact on Section 82B (1) and 82C(1)
1:00 Lunch
2:00

MODULE 8: ASSESSING READINESS OF E-INVOICE

  • The impacts of personnel, resources and process
  • E-Invoicing: Impact on strategies and operations
  • Examples of E-Invoicing strategies
  • Key considerations when implementing
    E-Invoicing
  • Pre and post of the implementation of the E-Invoicing system
  • Best practices for E-Invoicing in Malaysia
  • Summary of tax incentives / grant in relation to implementation of E-Invoice
3:45

MODULE 9 : FREQUENCY ASKED QUESTIONS AND UPDATED INDUSTRY GUIDE

  • Industry frequency asked questions
  • Updated of industry guides
5:00 End of Course