Preparing your Business for E-Invoicing in Malaysia : a Comprehensive Guide

Course Objectives

• Differentiate between traditional invoicing methods and e-invoicing models, identifying the advantages and challenges associated with each.
• Navigate the regulatory framework governing e-invoicing in Malaysia, ensuring compliance with IRBM requirements and regulations.
• Implement e-invoicing procedures effectively, including the creation, submission, validation, and sharing of e-invoices, while adhering to mandatory fields and file formats.
• Assess their organization’s readiness for e-invoicing adoption, identifying areas for improvement and implementing necessary measures for smooth transition.
• Utilize reporting and dashboard services provided for taxpayers to monitor and analyze e-invoicing transactions, ensuring accurate tax reporting and compliance.
• Address common concerns and queries regarding e-invoicing through an understanding of the latest FAQs published by IRBM, enhancing confidence and proficiency in e-invoicing practices.

Target Audience

• Finance Department
• Accounting Department
• Taxation Department
• Compliance Officers
• IT Department
• E-Invoice Service Provider
• Software Developer and Organization
• Business Owners
• Procurement Department
• Supply Chain Department
• Auditors
• Legal Counsel

Methodology

The training methodology is designed to foster a dynamic and engaging learning environment, prioritizing active participation and collaboration among participants. Through highly interactive learning sessions facilitated by trainer, participants will have ample opportunities to engage in discussions, ask questions, and share insights. The Incorporation of assessments, quizzes, and continuous feedback mechanisms ensures a comprehensive understanding of the material, while also providing participants with opportunities for self-assessment and reflection. Moreover, participants will play an active role in evaluating their achievement of learning outcomes, contributing to a meaningful and impactful learning experience.

Course Modules

Session 1: Introduction to E-Invoicing

• Overview of traditional vs. e-Invoice Model
• Benefits of e-invoicing for businesses in Malaysia
• E-Invoice Implementation Timeline
• Regulatory framework and compliance requirements for e-invoicing in Malaysia

Session 2: Getting Ready for E-Invoicing

• Transaction Types
• Scenarios and Types of E-Invoice
• Exemptions from implementation E-Invoice
• E-Invoice Offence
• E-Invoice Model (MyInvois vs API）
• E-Invoice Procedures and Workflow (Step by Step Guidance)

1. Creation & Submission of E-Invoice
2. Validation of E-Invoice
3. Notification of validated E-Invoice
4. Sharing of E-Invoice
5. Rejection or cancellation of E-Invoice
6. Storing of E-Invoice
7. Reporting and Dashboard Services for Taxpayers

• Data Security and Privacy Monitory by IRBM
• Assessing Readiness of E-Invoice
• List of Required Fields for E-Invoice
• List of Mandatory and Optional Fields for E-Invoice

Session 3: Specific Guidelines

(Important Application Scenarios and Examples)

1. Transaction with Buyers & Consolidated e-Invoice
2. For buyer requires/does not require for e-Invoice
3. Statements or Bills on a Periodic Basis
4. Self-billed e-Invoice: Interest Payment
5. Self-billed e-Invoice: Payment to Agents, Dealers, Distributors
6. Self-billed e-Invoice: Transactions with individuals (who are not conducting a business)
7. Disbursement or Reimbursement
8. Staff Claim – Employment Perquisites and Benefits
9. Staff Claim – Expenses incurred by Employee on behalf of the Employer
10. Cross Border Transactions (Import & Export)
11. E-Commerce Transactions
12. Profit Distribution (eg: Dividend Distribution)
13. Foreign Income

Session 4: LHDN Latest Update Highlights

Session 5: 6 months Interim Relaxation Period

Session 6: Latest Frequently Asked Questions (FAQ) published by IRBM

RBM