Tax Savvy Boss: e-invoicing Tactics Revealed
Tax Savvy Boss: e-invoicing Tactics Revealed
ONLINE WEBINAR
ONLINE WEBINAR
Date: 22/11/2024 (Friday)
Time：2:00PM - 4:30PMSpeaker: Datin Yap Shin Siang, YYC Group CEO & Finance Expert
Time：2:00PM - 4:30PM
Speaker: Datin Yap Shin Siang, YYC Group CEO & Finance Expert
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Fill in your details to register now
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What is e-invoicing?
What is e-invoicing?
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.
BEFORE the implementation of e-Invoice vs
AFTER the implementation of e-Invoice
BEFORE the implementation of e-Invoice VS AFTER the implementation of e-Invoice
The traditional buying and selling process involves the customer (buyer) purchasing goods, and the merchant (seller) can directly issue an invoice or receipt to the customer.
However, with the implementation of e-Invoices, this process has undergone a change.
Merchants can no longer directly issue invoices to customers; Instead, they need to upload the invoice to the system and undergo validation by LHDN.
However, with the implementation of e-Invoices, this process has undergone a change.
Merchants can no longer directly issue invoices to customers; Instead, they need to upload the invoice to the system and undergo validation by LHDN.
e-invoicing Implementation timelines
e-invoicing Implementation timelines
e-invoicing will be mandatory for all businesses based on their turnover or revenue thresholds and will be implemented in phases. For businesses with an annual turnover of more than RM 100 million, the original implementation date of 1 June 2024, has been postponed to 1 August 2024.
However, following the budget announcement on October 13, 2023, the implementation date for all other businesses has been brought forward by 18 months to 1 July 2025, moving it ahead of the initial date of 1 January 2027.
However, following the budget announcement on October 13, 2023, the implementation date for all other businesses has been brought forward by 18 months to 1 July 2025, moving it ahead of the initial date of 1 January 2027.
How does e-invoicing impact taxation?
How does e-invoicing impact taxation?
The mandatory implementation of e-invoicing is aimed at achieving better account reconciliation, increased productivity, and automation. This initiative is expected to reduce invoice processing costs, provide greater transparency to tax authorities, and improve tax compliance through more efficient financial and tax reporting.
This measure not only affects the financial sector but also has a significant impact on the field of taxation. All expenses and accounts are clearly recorded in the system, making it easier for tax authorities to identify taxpayers' tax loopholes, errors, and mistakes.
When the IRB has accurate and certain evidence to prove that a taxpayer has avoided paying taxes or violated the law, it can launch a special investigation. Where negligence, wilful default or fraud has been committed by the taxpayer, additional assessments can be raised at any time.
Join 【Tax Savvy Boss: e-invoicing Tactics Revealed】
Join 【Tax Savvy Boss: e-invoicing Tactics Revealed】
You will learn：
✅Why Tax is a concern for bosses?
✅Implementation Timelines of e-invoicing
✅Implementation process of e-invoicing
✅e-Invoice Workflow Overview
✅e-Invoice Models
✅Who should use e-invoicing?
✅E-Invoice Will Impact Your Taxes
WHO SHOULD ATTEND THIS WEBINAR?
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
Speaker Profile
Datin Yap Shin Siang
Datin Yap Shin Siang
YYC Group CEO & Finance Expert
YYC Group CEO & Finance Expert
✅ CEO of YYC Group, an Asian-grown accounting and business advisory group with a 50-year history of empowering entrepreneurial success.
✅ Over 20 years of professional experience in public accounting, tax, and business advisory.
✅ Rich expertise in finance, marketing strategy, sales strategy, and legal matters.
✅ Under her leadership, YYC today is ranked among the top 10 accountancy firms by size and can rival the Big Four locally.
✅ Being the second generation in the family business, she has grown a team of 50 staff to an 800-strong team which is trusted by 10,000 entrepreneurs.
✅ She has also tripled the business revenue since 2016 and won the attention of OCBC Bank in 2019 to invest and become a strategic partner of YYC.
✅ She is also a frequent speaker for seminars organised by China Press, Nanyang Siang Pau, Malaysian Institute of Accountants (MIA) and various trade associations such as Malaysia Retail Chain Association (MRCA), Master Builders Association Malaysia (MBAM), The Timber Exporter’s Association of Malaysia (TEAM) and many more.
✅ Over 20 years of professional experience in public accounting, tax, and business advisory.
✅ Rich expertise in finance, marketing strategy, sales strategy, and legal matters.
✅ Under her leadership, YYC today is ranked among the top 10 accountancy firms by size and can rival the Big Four locally.
✅ Being the second generation in the family business, she has grown a team of 50 staff to an 800-strong team which is trusted by 10,000 entrepreneurs.
✅ She has also tripled the business revenue since 2016 and won the attention of OCBC Bank in 2019 to invest and become a strategic partner of YYC.
✅ She is also a frequent speaker for seminars organised by China Press, Nanyang Siang Pau, Malaysian Institute of Accountants (MIA) and various trade associations such as Malaysia Retail Chain Association (MRCA), Master Builders Association Malaysia (MBAM), The Timber Exporter’s Association of Malaysia (TEAM) and many more.
✅ CEO of YYC Group, an Asian-grown accounting and business advisory group with a 50-year history of empowering entrepreneurial success.
✅ Over 20 years of professional experience in public accounting, tax, and business advisory.
✅ Rich expertise in finance, marketing strategy, sales strategy, and legal matters.
✅ Under her leadership, YYC today is ranked among the top 10 accountancy firms by size and can rival the Big Four locally.
✅ Being the second generation in the family business, she has grown a team of 50 staff to an 800-strong team which is trusted by 10,000 entrepreneurs.
✅ She has also tripled the business revenue since 2016 and won the attention of OCBC Bank in 2019 to invest and become a strategic partner of YYC.
✅ She is also a frequent speaker for seminars organised by China Press, Nanyang Siang Pau, Malaysian Institute of Accountants (MIA) and various trade associations such as Malaysia Retail Chain Association (MRCA), Master Builders Association Malaysia (MBAM), The Timber Exporter’s Association of Malaysia (TEAM) and many more.
✅ Over 20 years of professional experience in public accounting, tax, and business advisory.
✅ Rich expertise in finance, marketing strategy, sales strategy, and legal matters.
✅ Under her leadership, YYC today is ranked among the top 10 accountancy firms by size and can rival the Big Four locally.
✅ Being the second generation in the family business, she has grown a team of 50 staff to an 800-strong team which is trusted by 10,000 entrepreneurs.
✅ She has also tripled the business revenue since 2016 and won the attention of OCBC Bank in 2019 to invest and become a strategic partner of YYC.
✅ She is also a frequent speaker for seminars organised by China Press, Nanyang Siang Pau, Malaysian Institute of Accountants (MIA) and various trade associations such as Malaysia Retail Chain Association (MRCA), Master Builders Association Malaysia (MBAM), The Timber Exporter’s Association of Malaysia (TEAM) and many more.
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