CPD EVENTS
INTRODUCTION
While the IT tools / accounting software play a pivotal role in compliance to LHDN’s e-Invoicing requirements, businesses have the responsibility the right ensure all relevant transactions are captured by the system for the purpose of e-Invoicing. This includes many items outside of a conventional billing system – such as intercompany interest charges, sale of capital equipment or even sale of shares in a subsidiary company.
This course focuses on the role of tax professionals in ensuring businesses capture the right transactions for the purpose of e-Invoicing, including Self-Billed e-Invoice (SBeI). SBeI refers to the situation whereby customer/payer is required to issue SBeI for the cost/payment. Failure to do so attracts penalty – even during the initial 6-month period where relaxation is given.
COURSE OUTLINE
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Legal framework
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Scope documents covered
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Mechanics
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Transactional vs Consolidated e-Invoice
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Overview of the 55 data fields for both transactional and consolidated e-Invoice
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Self-Billed e-Invoice – Scope and Application on: Import of goods, Payment to foreign vendors for services, Payments to individuals (e.g. freelancers / rental to landlord / director fee), Incentive payment etc to Agents, Dealers & Distributors (ADDs), Interest payments, Others
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Relaxation during the initial 6-month period: Costly mistakes to avoid
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Foreign Source Income
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Reimbursement vs Disbursement
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Impact on staff claims on business expenses and staff perquisites.
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Recap of recent updates