It’s been a while since the implementation of e-Invoice.
LHDN has been making continuous announcements,
the overall framework is already in place:
In the future, all transactions will be monitored in real-time by LHDN
This Indicates That:
Revenue Transparency
Cost
Transparency
Profit Transparency
In other words, bosses will no longer be able to escape!
If you’re not prepared yet, you could face:
Surprise Audit
by LHDN
Up to RM20,000 Penalties
Tax deduction is affected
Many people think e-Invoicing is only about issuing sales invoices. But in fact, it also serves as the company’s proof of expenses.
In other words, it’s not just about sales income. Everyday expenses such as staff claims, rent, utilities, and part-time wages are also affected by e-Invoicing.
5 e-Invoice scenarios that 99% of bosses get wrong
Many bosses think they “already know”, but ended up making mistakes exactly in these areas:
Staff Claims
Many people think staff claims never require an e-Invoice or self-billed e-Invoice. Is it true?
Rental and Utilities
If the landlord does not issue an invoice, the tenant cannot obtain proof of expenses. Should tenant issue it? This is a common mistake made by many business owners.
Illegal Foreign Workers
Use EI000000030 to issue self-billed e-invoice. Complied with LHDN but running into trouble with the Immigration Department!
Key Points for Bosses
Deadlines and rules can be are very tricky. Just one careless mistake could lead to fines. It’s crucial for bosses to understand them.
Business Survival Strategies
Learn practical ways to spend less and smoothly transition to e-Invoicing.
Boss, if you are still unclear now and only try to fix things after problems arise, the money and time you’ll spend later will be far greater than now!