E-Invoicing

Course Objectives

• The accelerating global focus on e-Invoicing as a key reporting lever by tax administrators, including the Inland Revenue Board of Malaysia (IRBM) means businesses will need to step-up on their review of end-to-end tax compliance systems and take heed of the targeted IRBM system roll-out dates.

• With e-Invoicing becoming a tax obligation, businesses should fastidiously prepare their e-Invoicing systems to avert penalties and organizational risks. Businesses may consider undertaking a firm-wide collaborative approach involving key stakeholders in IT, tax, and finance, selecting the right technology solutions, leveraging on data analytics and ensuring data governance.

Target Audience

• Invoicing executives
• Account Receivable Executives
• Accounting and finance Executive
• Accountants
• Finance Managers

Methodology

• Lecture
• Presentation
• Group Discussion
• Role Play
• Game

Course Modules

Module 1 – Introduction

• About e-invoice
• Benefits of Adopting e-invoice
• Transaction Types
• Scenarios and Types of e-invoices
• e-invoice implementation timeline
• Exemptions from implementing e-invoice

Module 2 – Getting Ready for e-invoice

• e-invoice Overview Workflow
• e-invoice Model
• e-invoice Model via MyInvois Portal

1. Pre-Submission- e-invoice Submission Requirements
2. e-invoice Validation
3. e-invoice Validation
4. Notification
5. Sharing of e-invoice
6. Rejection or Cancellation
7. Storing e-invoices
8. Reporting and Dashboard Services for Taxpaper

Module 3 – 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 – Rejection and Cancellation
• Step 6 – Storing of e-invoice
• Step 7 – Reporting and Dashboard Services to Taxpaper
• Step 8 – Software Development Kit

Module 4 – Data Security and Privacy Monitoring by IRBM

• List of Required Fields for E-invoce
• List of Mandatory and Optional Fields Under Annexure to the e-invoice
• Glossary

Module 5 – Compliance with e-invoicing

• Who will be required to comply with the e-invoicing requirements?
• What types of transactions are covered in the e-invoicing requirements?

Module 6 – Implementation timeline

• When is the e-Invoicing implementation timeline
• How does e-invoicing system work?
• MyInvois Portal hosted by the IRBM
• Application Programming Interface (API)
• Six steps of e-invoicing system

Module 7 – Get Ready for the e-invoicing

• Are you ready for the e-invoicing?
• Five steps of implementation
• What are the tax and non-tax related practical issues?