Latest Update (April 2024)
[01] COURSE 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.
[02] COURSE BENEFITS
Upon completion of this training session, participants will gain the following skills and knowledge:
• Proficiency in navigating the lifecycle of an e-invoice, including its creation, validation, storage, and sharing, ensuring operational efficiency and regulatory compliance
• Ability to avoid penalties and compounding errors by adhering to best practices in e-invoicing management
• Enhanced capability to handle accounting tasks with meticulous attention, ensuring accuracy and compliance with regulatory requirements
• Improved efficiency and effectiveness in the workplace through optimized e-invoicing practices
• Understanding of the entities mandated to comply with e-invoicing regulations and insight into exemptions, enabling proactive preparation for regulatory changes
• Application of e-invoicing knowledge to inform business strategies and foster growth, recognizing its benefits beyond mere regulatory compliance
[03] 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.
[04] DATE/ TIME/ VENUE
Date： 9 May 2024 (Thu)
Time： 8.30am - 4.30pm
Venue： The Upper House Hotel, Batu Kawan
[05] FEE
[ HRD Corp Claimable ]
- Early Bird Offer (before 16 Apr 2024) – RM 760
- Special Offer (before 2 May 2024) – RM 800
- Normal Fee – RM 840
>> Fee includes Course Notes, Lunch, Refreshments & 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: 10001390193
[06] 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
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
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
Module 4 - Transactions Affected 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
Module 6 - Timeline and Threshold Considerations
Module 7 - Lifecycle of E-Invoicing
• Issuance of E-Invoice
• Validation and Notification
• Sharing and Rejection
• Utilization of MyInvois Portal
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
Module 9 - Impact on Accounting Practices
• Changes Expected in Accounts Receivable (AR)
• Changes Expected in Accounts Payable (AP)
• Testing E-Invoicing Integration
Module 10 - Exemptions and Special Cases
Conclusion and Q&A Session
[07] TRAINER PROFILE
ERIC CHEONG
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.
[08] ENQUIRY AND REGISTRATION
Email ：yes@sst2u.com
Contact :
- General (03 - 8604 7270)
- Logesh (012 - 503 0346)
- Siti (012 - 383 8603)
- Teo (011 - 3178 9203)
- Han (019 - 323 0507)