Mastering E-Invoicing: A Comprehensive Guide for Malaysian Businesses
Introduction
Transitioning to e-invoicing in Malaysia presents a myriad of challenges for businesses. Navigating the regulatory framework and compliancerequirements can be complex and time-consuming. Understandingthe impacts on current processes and assessing readiness for implementation are daunting tasks for many organizations. Additionally,the diverse transaction types and exemption criteria further complicatethe adoption process. Businesses often struggle to grasp the intricacies of e-invoicing workflows, leading to uncertainty and potential non-compliance issues. Ensuring data security and privacy monitoring, as mandated by IRBM, adds another layer of concern for businessesaiming to adopt e-invoicing successfully.
This comprehensive course aims to address the critical need for businesses in Malaysia to master e-invoicing. By providing a thorough understanding of the regulatory landscape and compliancerequirements, participants can navigate the transition confidently. Thecourse emphasizes compliance assurance, enabling participants to assess readiness and adhere to regulatory standards effectively. Mastery of various transaction scenarios, including interactions with buyers, disbursements, and cross-border transactions, empowers businesses to optimize e-invoicing processes. Ultimately, the courseaims to mitigate risks associated with non-compliance and facilitate a smooth transition to e-invoicing for businesses across Malaysia.
Course Objectives
By the end of this course, you will be able to:
- Explain the fundamental concepts and significance of e-invoicing,including its impact on current business processes and the benefits itoffers.
- Navigate the regulatory framework and compliance requirements for e- invoicing in Malaysia, including transaction types, affected parties,scenarios, and exemptions.
- Familiarize themselves with different e-invoicing models, such as MyInvois and API, and confidently navigate the e-invoicing processthrough both portals , including the creation, submission, validation, and sharing of e- invoices, while adhering to mandatory fields andfile formats.
- Assess their readiness for e-invoicing implementation, including datasecurity and privacy monitoring, and identify the required fields for e- invoices.
- Effectively manage transactions with buyers, including scenarios where buyers require or do not require e-invoices, and handle statements or bills on a periodic basis.
- Illustrate and relate real-life scenarios, demonstrating how E-Invoice requirements can be applied in different business circumstances.
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.
Who Should Attend?
- 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
Training Delivery
- Face to Face Training
or
- Remote Online Training via Zoom Platform
- Day One
- Day Two
Day One
MODULE 1: OVERVIEW OF E-INVOICING
MODULE 2: GETTING READY FOR E-INVOICING
MODULE 3: TRANSACTIONS WITH BUYERS
Day Two
MODULE 4: STATEMENTS OR BILLS ON A PERIODIC BASIS
MODULE 5: DISBURSEMENT OR REIMBURSEMENT
MODULE 6: EMPLOYMENT PERQUISITES ANDBENEFITS
MODULE 7: EXPENSES INCURRED BY EMPLOYEE ON BEHALF OF THE EMPLOYER
MODULE 8: SELF BILLED E-INVOICE
MODULE 9: TRANSACTION WHICH INVOLVE PAYMENTS (WHETHER IN MONETARY FORM OR OTHERWISE) TO AGENTS, DEALERS OR DISTRIBUTORS
MODULE 10: CROSS BORDER TRANSACTIONS
MODULE 11: PROFIT DISTRIBUTION (EG: DIVIDEND DISTRIBUTION)
MODULE 12: FOREIGN INCOME
MODULE 13: E-COMMERCE TRANSACTIONS
MODULE 14: E-INVOICE OFFENCES
MODULE 15: LATEST FREQUENTLY ASKED QUESTIONS (FAQ) PUBLISHED BY IRBM
MODULE 16: PRACTICAL EXERCISE WITH LHDN E-INVOICING
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