Bosses Must Avoid: 3 e-Invoice Landmines
ONLINE WEBINAR
Date:
21 May 2025 (Wednesday) @ 10.00 AM
Speaker:
Zen Chow,
YYC Executive Director and Country Tax Leader
21 May 2025 (Wednesday) @ 10.00 AM
Speaker:
Zen Chow,
YYC Executive Director and Country Tax Leader
Fill in your details to register now
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E-invoicing, also known as electronic invoicing.
An e-Invoice is a digital representation of a transaction between a supplier and a buyer.
An e-Invoice shall replace any other invoice formats that are presently adopted by businesses.
These include paper invoices, scanned invoices, invoices in pdf format, etc
An e-Invoice contains almost similar information as a traditional invoice, for example, supplier’s and buyer’s details, item description, quantity, price excluding tax, tax and total amount.
The difference is that an e-Invoice is a file created in the format specified by the IRBM which can be validated by the IRBM’s MyInvois Portal.
e-Invoicing presents itself as a challenge and opportunity to businesses, transforming the way businesses operate with its implementation. That said, how well-versed are you in e-invoicing for your business?
e-invoicing Implementation timelines
e-invoicing is not a choice; it's a legal requirement for businesses in Malaysia. As per scheduled by IRBM, e-invoicing will be mandatory to all businesses with annual turnovers of more than RM 500K and up to RM 25m starting July 2025. The transition to e-Invoice adoption can be convoluted, it’s not just upgrading your software and equipment! You must train yourself and your staff on the various new e-invoicing processes, and implementing change within the organisation takes time.
That’s why you must understand how e-Invoicing impacts your business, when to issue a consolidated e-Invoice, and when to issue a self-billed e-Invoice - to avoid penalties or even imprisonment!
That’s why you must understand how e-Invoicing impacts your business, when to issue a consolidated e-Invoice, and when to issue a self-billed e-Invoice - to avoid penalties or even imprisonment!
Exemption for businesses with Annual Revenue below RM150k, but not applicable to these 3 scenarios:
a. Taxpayer with non-individual shareholder(s) (or equivalent) with annual turnover or revenue exceeding RM150,000
b. Taxpayer is a subsidiary of a holding company with annual turnover or revenue exceeding RM150,000
c. Taxpayer has related company / joint venture with annual turnover or revenue exceeding RM150,000
a. Taxpayer with non-individual shareholder(s) (or equivalent) with annual turnover or revenue exceeding RM150,000
b. Taxpayer is a subsidiary of a holding company with annual turnover or revenue exceeding RM150,000
c. Taxpayer has related company / joint venture with annual turnover or revenue exceeding RM150,000
So long as you meet one of these conditions, even if YOUR annual revenue is less than RM150,000, you MUST implement e-Invoicing!
Hold it! It is not as simple as converting to scanned invoices, invoices in pdf format, etc
An e-Invoice is a digital representation of a transaction between a supplier and a buyer, containing similar information to a traditional invoice, for example, supplier’s and buyer’s details, item description, quantity, price excluding tax, tax, and total amount.
HOWEVER, the difference is that an e-Invoice is a document created in the format specified by the IRBM which can be validated by the IRBM’s MyInvois Portal.
Failing to comply may result in severe penalties per issuance / transaction!
Who should use e-invoicing?
e-Invoice applies to all persons in Malaysia, except for those exempted by the IRBM.
e-Invoice covers typical transaction types such as:
a. Business to Business (B2B)
b. Business to Consumer (B2C)
c. Business to Government (B2G)
e-Invoice covers typical transaction types such as:
a. Business to Business (B2B)
b. Business to Consumer (B2C)
c. Business to Government (B2G)
All taxpayers undertaking commercial activities in Malaysia
1）Businesses engaged in the provision of goods and services
a. Business to Business (B2B)
b. Business to Consumer (B2C)
c. Business to Government (B2G)
2) Certain non-business between individuals (*Guidance will be provided in due course)
How does the e-invoicing system work?
WHAT ARE THE BENEFITS OF e-invoicing?
✅ Enhanced productivity and automation – Streamlines invoicing processes, reducing manual workload.
✅ Improved account reconciliation – Ensures accurate and efficient financial tracking.
✅ Lower invoice processing costs – Reduces administrative expenses and paperwork.
✅ Greater transparency for tax authorities – Facilitates real-time transaction monitoring.
✅ Better tax compliance – Supports accurate and efficient financial and tax reporting.
✅Increased productivity and automation
✅Reduction of invoice processing costs
✅Reduction of invoice processing costs
✅Greater transparency to the tax authorities
✅Improve the tax compliance, more efficient financial and tax reporting
WHAT CAN I LEARN FROM THIS WEBINAR?
✅Implementation Timelines
Get insights into the latest e-invoicing implementation schedules and deadlines.
✅Mandatory Adoption
Discover who is required to adopt e-invoicing and the implications for your business.
✅Benefits of e-invoicing
Learn about the advantages, including cost savings and efficiency gains, associated with e-invoicing.
✅Overview of e-Invoice Workflow
Understand the step-by-step process of e-invoicing, from creation to submission and validation.
✅e-Invoice Models
Explore different e-Invoice models and how they can benefit your organization.
✅Scenarios Requiring e-Invoices
Discover when e-Invoices are required as proof of income and expenses.
✅Required Fields
WHO SHOULD ATTEND THIS WEBINAR?
✅Chief Executive Officers
✅Chief Financial Officers
✅Financial Planners & Controllers
✅Tax Agents
✅Tax Advisors and Consultants
✅Corporate Accountants
✅Corporate Tax Managers/Executives
✅Business Consultants
✅Billing/Invoicing Team
✅Other, who is in the role of issuing e-invoicing
SPEAKER
Zen Chow
Zen Chow
BBusCom (Monash), CPA (Aust.), C.A. (M), FCTIM, CTP
YYC Executive Director and Country Tax Leader
BBusCom (Monash), CPA (Aust.), C.A. (M), FCTIM, CTP
YYC Executive Director and Country Tax Leader
✅Licensed Tax Agent recognised by the Inland Revenue Board of Malaysia and Ministry of Finance (MoF)
✅Licensed GST Agent recognised by RMCD & MoF
✅Chartered Accountant of Malaysian Institute of Accountants (MIA)
✅Fellow Member of the Chartered Tax Institute of Malaysia (CTIM) and formerly Chairman of the Public Practice Committee
✅Accredited Trainer by the Human Resource Development Corporation (HRD Corp)
✅Awarded as the Top 50 Malaysia Influential Educators by the National Consumer Action Council (MTPN)
✅He has been involved in the tax compliance and tax advisory works for more than 19 years in various industries ranging from manufacturing, trading, franchisor / licensor, education, investment holding, agriculture, foundation, association and trade union.
✅Active in giving tax related talks and seminars such as budget talk and tax updates seminar, including company tax planning, personal tax planning, tax investigation, Malaysian annual budget analysis, latest tax developments and other tax related topics.
✅Frequently invited by media such as Bernama, TV2, 8TV, 8FM, BFM, 988, Melody FM and AiFM to share on tax topics
✅Licensed GST Agent recognised by RMCD & MoF
✅Chartered Accountant of Malaysian Institute of Accountants (MIA)
✅Fellow Member of the Chartered Tax Institute of Malaysia (CTIM) and formerly Chairman of the Public Practice Committee
✅Accredited Trainer by the Human Resource Development Corporation (HRD Corp)
✅Awarded as the Top 50 Malaysia Influential Educators by the National Consumer Action Council (MTPN)
✅He has been involved in the tax compliance and tax advisory works for more than 19 years in various industries ranging from manufacturing, trading, franchisor / licensor, education, investment holding, agriculture, foundation, association and trade union.
✅Active in giving tax related talks and seminars such as budget talk and tax updates seminar, including company tax planning, personal tax planning, tax investigation, Malaysian annual budget analysis, latest tax developments and other tax related topics.
✅Frequently invited by media such as Bernama, TV2, 8TV, 8FM, BFM, 988, Melody FM and AiFM to share on tax topics
Date & Time
21 May 2025
(Wednesday)
10.00am - 12.00pm
Online
Zoom
Fee
FREE
HOW TO REGISTER
About YYC
YYC is one of the top ten accounting firms in Malaysia. By providing one-stop professional solutions including auditing, accounting, taxation and business consulting, and corporate training to enterprises, it is highly regarded by entrepreneurs for its innovative professional services.
YYC was established in 1974. We have 51 years of experience assisting other companies to expand their businesses. This is a successful enterprise that is widely recognized by local entrepreneurs. Now, it has come to the second generation and is jointly operated by a sister and brother duo. Together, they lead more than 1,100 employees to provide the most sought-after professional services. We have more than 5 decades of market experience. Therefore, YYC is quite familiar with the dynamic global market. We have also helped several domestic and foreign businesses to grow their market share.
YYC was established in 1974. We have 51 years of experience assisting other companies to expand their businesses. This is a successful enterprise that is widely recognized by local entrepreneurs. Now, it has come to the second generation and is jointly operated by a sister and brother duo. Together, they lead more than 1,100 employees to provide the most sought-after professional services. We have more than 5 decades of market experience. Therefore, YYC is quite familiar with the dynamic global market. We have also helped several domestic and foreign businesses to grow their market share.
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