The registration for this seminar has been CLOSED due to full capacity.
【e-Invoicing for SMEs: From Mystery to Mastery】
【e-invoicing for SMEs: From Mystery to Mastery】
FREE TAX SHARING
*Limited 800 seats, first come, first served!
DATE: 25/5/2024 (Saturday)
TIME：10:00AM
REGISTRATION TIME：8:30AM
SPEAKER： Zen Chow
LOCATION：Menara PGRM Cheras (Level 4, Dewan Wawasan)
The registration for this tax seminar has been CLOSED early due to full capacity, with over 2000 participants registered. We greatly appreciate everyone's enthusiastic support! 🔥
If you are interested in our seminars or would like to learn about e-Invoice topics, you can register for our online tax webinar 'Tax Savvy Boss: e-invoicing Tactics Revealed', also hosted by YYC, with Datin Yap Shin Siang, YYC Group CEO & Finance Expert, as the main speaker. If you are interested in registering, please click the button below to Learn More!
If you are interested in our seminars or would like to learn about e-Invoice topics, you can register for our online tax webinar 'Tax Savvy Boss: e-invoicing Tactics Revealed', also hosted by YYC, with Datin Yap Shin Siang, YYC Group CEO & Finance Expert, as the main speaker. If you are interested in registering, please click the button below to Learn More!
LOCK YOUR SEAT NOW
Attendees will receive a special gift from YYC《e-Invoicing Assessment Checklist》
Attendees will receive a special gift from YYC《e-Invoicing Assessment Checklist》
* *Limited to 300 only!!!
The Impact of e-Invoice
With the advancement of technology and the evolution of the times, the government has decided to gradually implement electronic invoices based on taxpayers' income thresholds starting in 2024, with full implementation scheduled for July 1, 2025. This means that the era of e-Invoices is approaching, which will have significant implications for entrepreneurs.
e-Invoices will impact various aspects of business operations, finance, and tax management. Businesses will need to make appropriate adjustments to their existing workflows to ensure smooth operations. This poses a significant challenge for many small and medium-sized business owners.
e-Invoices are just converting invoices into PDF format?
e-Invoices are just converting invoices into PDF format?
Which businesses are required to implement e-Invoices?
Which businesses are required to implement e-Invoices?
All businesses must implement e-Invoices based on their annual turnover or revenue threshold. The annual turnover or revenue threshold refers to the turnover or revenue value as stated in the audited financial statements for the year 2022 or in the tax return for the tax year 2022 to determine the date for implementing e-Invoices, as follows:
However, the government also accepts voluntary early adoption of e-Invoices by taxpayers, regardless of their annual turnover or revenue threshold.
How does the e-invoicing system work?
How does the e-invoicing system work?
If there is an error in the e-Invoice, what should I do?
If there is an error in the e-Invoice, what should I do?
If the supplier discovers an error on an invoice already sent to the customer, the supplier can initiate the cancellation of an e-Invoice within 72 hours, and the customer can also request the rejection of the invoice in case of any discrepancy within 72-hour hours.
However, after the 72-hour deadline has passed, any adjustments will require the issuance of new documents, such as a debit note, credit note, or refund note.
Subsidies or allowances for the implementation of e-Invoices
According to the announcement made in the Budget 2024, the government has proposed a series of incentives to support and encourage businesses to move towards digitization. One of these subsidies is the Digitalization Grant for Small and Medium Enterprises (SMEs), where the government will allocate grants of up to RM5,000 to assist entrepreneurs and operators of small and micro-enterprises in upgrading their digital capabilities. Of course, the implementation of e-Invoices is also included in this initiative!
Furthermore, the government has also decided to provide annual tax deductions of up to RM50,000 based on Environmental, Social, and Governance (ESG) related expenditures (effective from the tax years 2024 to 2027). This includes consulting fees related to the implementation of e-Invoices.
Fines and consequences for not comply with the e-Invoice regulations
Fines and consequences for not comply with the e-Invoice regulations
Non-compliance with these regulations empowers the IRB to impose fines ranging from RM200 to RM20,000 or imprisonment for up to 6 months, or both.
Attention! The following actions may result in penalties:
1. Failure to generate and submit invoices.
2. In cases of self-billing e-Invoices, failure by the buyer to issue self-billed e-Invoices.
3. Failure by the supplier to submit consolidated e-Invoices.
What can I learn from this event？
Implementation Timelines
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.
e-Invoice Workflow Overview
Understand the step-by-step process of e-invoicing, from creation to validation and submission.
e-Invoice Models
Explore different e-Invoice models and how they can benefit your organization.
Scenarios Requiring e-Invoices
Find out when e-Invoices are essential for proof of income and expenses.
Required Fields
Get a comprehensive list of the essential fields for creating an e-Invoice.
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.
e-Invoice Workflow Overview
Understand the step-by-step process of e-invoicing, from creation to validation and submission.
e-Invoice Models
Explore different e-Invoice models and how they can benefit your organization.
Scenarios Requiring e-Invoices
Find out when e-Invoices are essential for proof of income and expenses.
Required Fields
Get a comprehensive list of the essential fields for creating an e-Invoice.
Chief Executive Officers
Chief Financial Officers
Financial Planners & Controllers
Corporate Accountants
Corporate Tax Managers/Executives
Business Consultants
Chief Executive Officers
Chief Financial Officers
Financial Planners & Controllers
Tax Agents
Tax Advisors and Consultants
Corporate Accountants
Corporate Tax Managers/Executives
Business Consultants
SPEAKER DETAILS
Zen Chow
Executive Director and Tax Practice Leader in YYC Group
Executive Director and Tax Practice Leader in YYC Group
BBusCom (Monash), CPA (Aust.), C.A. (M), FCTIM, CTP
✅ Licensed Tax Agent recognized by the Inland Revenue Board of Malaysia and Ministry of Finance (MoF)
✅Licensed GST Agent recognized by RMCD & MoF
✅Chartered Accountant of Malaysian Institute of Accountants (MIA)
✅Council Member of the Chartered Tax Institute of Malaysia (CTIM) and 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)
✅ Zen has been involved in the tax compliance and tax advisory works for more than 18 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 Tax Agent recognized by the Inland Revenue Board of Malaysia and Ministry of Finance (MoF)
✅Licensed GST Agent recognized by RMCD & MoF
✅Chartered Accountant of Malaysian Institute of Accountants (MIA)
✅Council Member of the Chartered Tax Institute of Malaysia (CTIM) and 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)
✅ Zen has been involved in the tax compliance and tax advisory works for more than 18 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.
The free physical sharing event has reached its 9th session!
Our sharing events in Kuala Lumpur, Penang, and Selangor have all been packed! Thank you very much to the attendees for their enthusiasm for tax knowledge.
1.0 Kuala Lumpur - YYC Sri Petaling Training Centre
2.0 Penang - JEN Hotel Penang Georgetown
3.0 Selangor - Wyndham Acmar Hotel, Klang
4.0 Kuala Lumpur - HXC Grand Ballroom
5.0 Kuala Lumpur - Menara PGRM Cheras
6.0 Kuala Lumpur - Sime Darby Convention Centre
7.0 Kuala Lumpur - Tropicana Golf & Country Resort, PJ
8.0 Kuala Lumpur - HGH Convention Centre, Sentul
