Preparing Your Business For E-Invoicing In Malaysia: A Comprehensive Guide

Preparing Your Business For E-Invoicing In Malaysia: A Comprehensive Guide
DURATION: 1 DAY
TIME SCHEDULE
Time: 9:00am to 5:00pm
Lunch Break: 1:00pm to 2:00pm


INTRODUCTION
Transitioning to e-invoicing in Malaysia may pose several challenges. Businesses might struggle with the initial setup and integration of e-invoicing systems, especially if they're accustomed to traditional methods. Understanding the regulatory framework and ensuring compliance can be complex and time-consuming. Additionally, navigating through different transaction types, scenarios, and exemption criteria could be daunting. Ensuring data security and privacy, along with assessing readiness for e-invoicing, might present significant hurdles. Lastly, businesses may face issues with validating, sharing, and storing e-invoices efficiently while maintaining seamless workflow integration.

This course aims to equip participants with a comprehensive understanding of e-invoicing's transition, benefits, and implementation in Malaysia. Participants will grasp the differences between traditional and e-invoicing models and explore the regulatory framework and compliance requirements set forth by IRBM. Through detailed guidance on e-invoice procedures and workflows, participants will learn to create, submit, validate, and manage e-invoices effectively. Furthermore, the course seeks to address common concerns and queries through the latest FAQs from IRBM, enabling participants to navigate e-invoicing challenges confidently. Ultimately, the course endeavors to empower businesses to seamlessly transition to e-invoicing while maximizing its advantages.


LEARNING OUTCOMES / BENEFITS
After completing the training, participants shall be able to:

• Differentiate between traditional invoicing methods and e-invoicing models, identifying the advantages and challenges associated with each.
• Navigate the regulatory framework governing e-invoicing in Malaysia, ensuring compliance with IRBM requirements and regulations.
• Implement e-invoicing procedures effectively, including the creation, submission, validation, and sharing of e-invoices, while adhering to mandatory fields and file formats.
• Assess their organization's readiness for e-invoicing adoption, identifying areas for improvement and implementing necessary measures for smooth transition.
• Utilize reporting and dashboard services provided for taxpayers to monitor and analyze e-invoicing transactions, ensuring accurate tax reporting and compliance.
• Address common concerns and queries regarding e-invoicing through an understanding of the latest FAQs published by IRBM, enhancing confidence and proficiency in e-invoicing practices.

• Overview of traditional vs. e-Invoice Model
• Benefits of e-invoicing for businesses in Malaysia
• E-Invoice Implementation Timeline
• Regulatory framework and compliance requirements for e-invoicing in Malaysia

• Transaction Types
• Scenarios and Types of E-Invoice
• Exemptions from implementation E-Invoice
• E-Invoice Model (MyInvois vs API）
• E-Invoice Procedures and Workflow (Step-by-Step Guidance)

• Creation & Submission of E-Invoice
• Validation of E-Invoice
• Notification of validated E-Invoice
• Sharing of E-Invoice
• Rejection or cancellation of E-Invoice
• Storing of E-Invoice
• Reporting and Dashboard Services for Taxpayers

• Data Security and Privacy Monitory by IRBM
• Assessing Readiness of E-Invoice
• List of Required Fields for E-Invoice
• List of Mandatory and Optional Fields for E-Invoice

• Director, Manager, Executive, Officer
• 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