E-invoicing implementation

Introduction

The Government has announced that the new e-invoicing system will be rolled out for all businesses in phases. With effect from August 1st, 2024, the Inland Revenue Board of Malaysia (IRBM) has mandated the submission of electronic invoices with specific fields for validation and registration. This initiative by the IRBM aims to streamline record-keeping processes and reduce tax compliance costs for businesses.

Essentially, e-invoices validated by the IRBM’s MyInvois Portal must be provided by a seller to a buyer in all transactions involving the sales of goods and services. This digital document serves as proof of income for the seller and a proof of expense for the buyer for tax purposes. Implementation is not straightforward, as there are complexities involved in adjusting business processes and accounting system to ensure full compliance with e-invoicing rules. Apart from ensuring e-invoicing compliance at the accounts receivables (AR) front, businesses must also issue self-billed e-invoices for certain expenses, i.e. accounts payable (AP) end, to comply with the IRBM’s requirements.

Successful implementation of an e-invoicing system in Malaysia requires a strategic approach, and businesses must gear themselves up for a smooth transition to the new e-invoicing system. It is crucial for all aspects of implementation issues to be identified and solutions provided in a timely manner.

This workshop is meticulously crafted to provide you with valuable insights from business advisers, IT experts and tax consultants. It aims to equip you with practical approaches and methodologies to seamlessly help you transition into the new e-invoicing system, thus ensuring your business remains ahead of the curve.

E-invoicing not only simplifies tax processes but also enhances transparency, aligning with the government's broader efforts to modernise the tax system. To ensure a successful transition to the new e-invoicing system, businesses must act quickly and decisively. Establishing a dedicated project team to address key implementation issues is essential, allowing businesses to navigate the e-invoicing journey smoothly and capitalise on the benefits of digital transformation.

Learning Objectives

• Understand the fundamentals of e-invoicing and its impact on business operations.
• Learn about the benefits of e-invoicing for SMEs, including cost savings and efficiency gains.
• Gain insights into best practices relating to e-invoicing IT Systems and Solutions.
• Learn about the latest trends and innovations in e-invoicing technology.
• Understand the role of e-invoicing in Malaysia's digital transformation journey.
• Get practical tips for overcoming challenges in e-invoicing implementation.
• Network with industry experts and peers to share experiences and insights.

Topics to be covered

• Crowe's 10-Step Approach for e-Invoicing Implementation
• Practical issues involved in the implementation of an e-invoicing system
• E-Invoicing IT Systems and Solutions
• E-invoicing implementation by SMEs

• Individual rate : RM1,200nett / pax
• Early bird: RM1,000nett / pax - Registration by 12^th June 2024

Click here to register now >>>

Here’s why you should attend our E-invoicing implementation: The secrets of success on 3^rd July 2024:

• HRDC claimable –  participants who are HRDC contributors can claim the event fee directly from the HRDC.
• CPD hours – participants who have professional qualifications will be able to claim their CPD hours to the awarding bodies such as CTIM, MIA, etc.
• e-Certificate of Attendance - Showcase your newfound skills with a certificate you can add to your resume and online profiles.
• Early Bird Discounts - Register early and save!