E-INVOICING
introduction to e-invoicing
The accelerating global focus on e-Invoicing as a key reporting lever by tax administrators, including the Inland Revenue Board of Malaysia (IRBM) means businesses will need to step -up on their review of end-to-end tax compliance systems and take heed of the targeted IRBM system roll-out dates. With e-Invoicing becoming a tax obligation, businesses should fastidiously prepare their e-Invoicing systems to avert penalties and organizational risks. Businesses may consider undertaking a firm-wide collaborative approach involving key stakeholders in IT, tax, and finance, selecting the right technology solutions, leveraging on data analytics and ensuring data governance.
Course Objective
The training aims learners to
- Understand the mechanism of E-Invoice mechanism
- Prepare and get ready for E-Invoice implementation
- Gain guidance on actions to be taken to capture revenue and cost for your business operation
Course Content
Module 1
INTRODUCTION
- About E-invoice
- Benefits of Adopting e-invoice
- Transaction Types
- Scenarios and Types of e-invoices
- E-invoice implementation timeline
- Exemptions from implementing e-invoice
Module 2
GETTING READY FOR E-INVOICE
- E-invoice Overview Workflow
- E-invoice Model
- E-invoice Model via MyInvois Portal
- Pre-Submission – e-invoice Submission Requirements
Module 3
E-INVOICE MODEL VIA API
- Pre-Submission – e-invoice Submission Requirements
Step 1 – Submission
Step 2 – e-invoice Validation
Step 3 – Notification
Step 4 – Sharing of e-invoice
Step 5 – Rejection and Cancellation
Step 6 – Storing of e-invoice
Step 7 – Reporting and Dashboard Services to Taxpaper
Step 8 – Software Development Kit
Module 4
DATA SECURITY AND PRIVACY MONITORING BY IRBM
- List of Required Fields for E-invoice
- List of Mandatory and Optional Fields Under Annexure to the e-invoice
- Glossary
Module 5
COMPLIANCE WITH E-INVOICING
- Who will be required to comply with the e-invoicing requirements
- What types of transactions are covered in the e-invoicing requirements?
Module 6
IMPLEMENTATION TIMELINE
- When is the e-Invoicing implementation timeline
- How does e-invoicing system work?
- MyInvois Portal hosted by the IRBM
- Application Programming Interface (API)
- Six steps of e-invoicing system
Module 7
GET READY FOR THE E-INVOICING
- Are you ready for the e-invoicing?
- Five steps of implementation
- What are the tax and non-tax related practical issues?
Methodology
- Lecture
- Presentation
- Group Discussion
- Role Play
- Game
Target trainees
- Directors, CEO, COO and CFOs.
- Financial Controllers, Accountants & Those Heading the Financial Functions,
- Company Secretaries, Operational Departmental Managers, Executives, Officers and those who wish to develop their understanding on financial analysis
- Any other person who wish to grasp the managerial aspects of accounting & finance for corporate financial effectiveness.