Latest Update (April 2024)
[01] COURSE INTRODUCTION
Malaysia is undergoing a transformative shift in its tax system in alignment with the Twelfth Malaysia Plan (“12MP”). This transition involves the implementation of e-invoicing, a digital approach aimed at modernizing tax processes and streamlining business trans- actions. E-invoicing involves the creation, transmission, and storage of invoices in a structured digital format, eliminating the need for traditional paper invoices.
Under the new e-invoicing system, invoices will contain essential transaction details such as supplier and buyer information, item descriptions, quantities, prices excluding tax, taxes, and total amounts. These e-invoices will be generated in a standardized format prescribed by the Inland Revenue Board (IRB) and transmitted directly to the IRB for real-time validation. Adoption of e-invoicing will be mandatory for all businesses, with implementation timelines based on annual turnover or revenue thresholds.
The IRB's e-invoice guideline specifies some 50+ specific fields for inclusion in each e-invoice, ensuring comprehensive documenta-tion of transactions within the digital framework. Real-time access to this data will equip the IRB with valuable insights into taxpay-ers' business activities, facilitating the detection of discrepancies, errors, or omissions in invoice filing. Additionally, e- invoicing may serve as a benchmark for taxpayer performance against industry best practices, aiding the IRB in tax audits and investigations to uncover potential understatement, omission, or unreported income or profit.
[02] METHODOLOGY
Lecture, case Studies of which some are drawn from trainer’s own experiences, group discussion.
[03] COURSE OUTCOMES
• To assist participants in their preparation for E-Invoicing implementation
• To explain in simple terms the technical connection options to LHDN system
• To highlight the taxation implications of E-Invoicing, including Section 91(3) ITA 1967
• To share tax planning approaches in view of the arrival of E-Invoicing
[04] DATE/ TIME/ FEE
- Date: 29 Apr 2024 (Mon)
- Time: 9.00am – 5.00pm
- Venue: Avante Hotel, Petaling Jaya
Fee: [HRD Corp Claimable]
- Early Bird Offer (before 11 Apr 2024) – RM830
- Special Offer (before 25 Apr 2024) – RM880
- Normal Fee – RM930
- Fee includes Meals, 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: Public
Course Code: 10001402557
[05] COURSE OUTLINE
Module 1 - Introduction
• What is E-Invoicing
• Implementation Timeline
• Exemption
Module 2 - E- Invoicing model
• Workflow
• Module via MyInvois PORTAL
• Module via API
• Software Development Kit for MyInvois System
Module 3 - The Implication of E-Invoicing
• Data Security and Privacy
• Assessing Readiness
• Impact on Businesses
• Tax-related implication
○ SVDP 2.0 in context
Module 4 - Tax Incentive and Grant In Relation to Implementation of E-Invoicing
• Digitalization Grant
• Capital Allowance
• Tax Deduction
Question & Answer Session
End of Training
[06] TRAINER PROFILE
NORASHIKIN SOIN
Chartered Accountant, Principal, HRD Corp Certified Trainer
Norashikin has over 20 years of experience in the areas of accountancy, tax, company secretarial and advisory. She started off her career with a Big 4, and worked her way up to the Tax Manager of a local mid-sized tax firm. She was responsible for manag- ing tax audit, advisory and investigation of local and oversea clients. It was there her works crossed paths with Ministry of Finance (“MoF”), Lembaga Hasil Dalam Negeri (“LHDN”), and other government authorities.
In 2010, she established her own firm offering taxation and company secretarial services to a wide range of clients. Her years of practical experience and personal connection makes her training so much more relevant and practical.
Qualification:
• 2008 Associate Member of Malaysian Association of Tax Accountants (MATA)
• 2006 Chartered Accountant, Member of Malaysian Institute of Accountants (MIA)
• 2002 Bachelor of Accountancy –(Hons) Northern University of Malaysia, Malaysia
[07] ENQUIRY/ REGISTRATION
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