[01] INTRODUCTION

The Inland Revenue Board of Malaysia (IRBM) has officially announced the phased implementation of the new Electronic Invoice (e-invoice) system, marking a pivotal shift in business transactions. Under Section 82 of the Income Tax Act 1967, e-invoicing will gradually roll out starting from August 1, 2024, with full enforcement slated for 2025.

This initiative aims to bolster efficiency in business transactions and compliance with tax regulations, impacting sole proprietors, private limited companies and a spectrum of businesses involved in goods and services trade.

Recognizing the significant shift, this e-invoice course offers a comprehensive checklist, delving into crucial aspects such as software capabilities, self-billing procedures, consolidated e-invoicing methods, disbursement and reimbursement protocols, management of employee benefits and expense claims, buyer request options, and the requisite IT infrastructure and more.

The National Inland Revenue Board of Malaysia (IRBM) has officially announced the phased implementation of the new electronic invoice (e-invoice) system, marking an important shift in business transactions. In accordance with Section 82 of the Income Tax Act 1967, e-invoice will be implemented gradually from 1 August 2024, with full enforcement planned for 2025.

The move is aimed at enhancing efficiency in business transactions and compliance with tax regulations, affecting sole proprietors, private limited companies and various businesses involved in trade in goods and services.

In light of this significant shift, this e-invoicing course offers a comprehensive checklist that delves into key aspects such as software capabilities, self-invoicing procedures, consolidated e-invoicing approaches, payment and reimbursement protocols, employee benefits and expense reimbursement management, buyer request options, necessary IT infrastructure, and more.

[ 02 ] COURSE OBJECTIVES

This training helps business owners, accountants, finance professionals, and bookkeepers regarding the intricacies of accounting in the e-invoicing era. By providing comprehensive guidance and practical insights, attendees will be equipped with the knowledge and skills necessary to effectively manage business and accounting processes amidst the transition to electronic invoicing, thereby minimizing disruptions and maximizing operational efficiency.

This training helps business owners, accountants, finance professionals and bookkeepers understand the complexities of accounting in the era of electronic invoicing. By providing comprehensive guidance and practical insights, participants will be equipped with the knowledge and skills needed to effectively manage business and accounting processes in the transition to the era of electronic invoicing, thereby minimizing disruption and maximizing operational efficiency.

[03]  METHODOLOGY

Lecture (theory and practical), interactive discussion, Q&As. 

Classroom lectures (theory and implementation), interactive discussions, question-and-answer sessions. 

[04] DATE, TIME, METHOD  Date /  time /  location

Date: 28 November 2024 (Thu)
Time: 9.00am - 5.00pm
Venue: Online/ Interactive
Fee: [HRDF Claimable]

FEE:
   - Special Offer (before 20 Nov 2024) – RM650
   - Normal Fee – RM700

>> Fee includes Course Notes, Certificate of Completion and 8% Service Tax. 

OFFER

- 10% Cashback for SST2u Learner Card+ (SLC+) members. T&Cs applied.

HRDCorp Claimable Course:
Trainer MyCoiD: 429594X
Course Scheme: HRDCorp Claimable Course
Course Type: Remote Online Training (Public)
Course Code: 10001390883

[05] COURSE OUTLINE

Module 1 - Understanding E-Invoicing

• Definition and Concept of E-Invoicing

• Objectives and Benefits

• Entities Covered by E-Invoicing Regulations

• Optimal Timing for Implementation

Unit 1 - Understanding electronic invoicing

• Definition and concept of electronic invoice

• Goals and benefits

• Entities subject to e-invoicing regulations

• Best time to implement

Module 2 - Planning for E-Invoicing Rollout

• Preparing Invoices, Credit Notes, and Debit Notes

• Fields of information needed

• Evaluating IT Infrastructure Requirements

• Operational Readiness Assessment

• Potential Negative Impacts on Business Operations

Unit 2 - Planning for e-invoicing roll-out

• Prepare invoices, credit notes and debit notes

• Required Information Fields

• Assess IT infrastructure requirements

• Operational Readiness Assessment

• Potential negative impact on business operations

Module 3 - Background and Benefits of E-Invoicing

• Enhancing Tax Revenue Contributions

• Facilitating Real-time Business Transaction Analysis

• Mitigating Tax Leakages

• Ensuring Compliance with Income Tax Act

• Validating Tax-Deductible Expenses

• Aligning with SST Collection Mechanisms

Unit 3 - Background and benefits of electronic invoicing

• Increase tax contribution

• Facilitate real-time business transaction analysis

• Mitigating tax leakage

• Ensure compliance with income tax laws

• Verify tax deductible expenses

• Align with the Sales and Service Tax (SST) collection mechanism

Module 4 - Transactions Affected by E-Invoicing Implementation

Module 4 - Transactions impacted by e-invoicing implementation

Module 5 - Scenario Analysis and E-Invoice Types

• Implications for Imports and Exports

• Adjustment Processes

• Refund Applications

• Disbursement and Reimbursement Procedures

Unit 5 - Scenario Analysis and E-Invoice Types

• Impact on imports and exports

• Adjustment process

• Refund Request

• Payment and reimbursement procedures

Module 6 - Timeline and Threshold Considerations

• Sharing and Rejection

• Utilization of MyInvois Portal

Module 6 - Timeline and Threshold Considerations

• Share and reject

• Use the MyInvois portal

Module 7 - Lifecycle of E-Invoicing

• Issuance of E-Invoice

• Validation and Notification

Unit 7 - The life cycle of an electronic invoice

• Issue electronic invoices

• Authentication and Notification

Module 8 - Implementation Strategies and Addressing Issues

• Application Scenarios

• Adjustment Periods for Suppliers

• Editing and Storage Protocols

• Handling Sequential Numbering

• Management of Consolidated E-Invoices

• Reporting and Compliance Procedures

• Handling Transactions with Agents/ Distributors

• Management of Overseas Income/ E-Invoicing for Foreign Transactions

Unit 8 - Implementing strategies and solving problems

• Application scenarios

• Adjustment period for suppliers

• Edit and store protocols

• Handling of sequential numbers

• Manage consolidated electronic invoices

• Reporting and compliance procedures

• Processing transactions with agents/dealers

• Manage overseas income/electronic invoicing for foreign transactions

Module 9 - Impact on Accounting Practices

• Changes Expected in Accounts Receivable (AR)

• Changes Expected in Accounts Payable (AP)

• Testing E-Invoicing Integration

Unit 9 - Impact on accounting practice

• Expected changes in accounts receivable (AR)

• Expected changes in accounts payable (AP)

• Testing e-invoicing integration

Module 10 - Exemptions and Special Cases

Unit 10 - Exemptions and special circumstances

Conclusion and Q&A Session

Conclusion and Q&A

End of Training

[06] TRAINER  PROFILE

CHEONG MING FENG

HRDF Certified Trainer

Cheong graduated from University Science Malaysia with a Degree in Social Science (Major in Economics). He is a specialist trainer in accounting, finance, taxation and investment.

[07] ENQUIRY &  REGISTRATION

Enquiry: yes@sst2u.com

Contact:

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