E-Invoice Implementation for Property Developers, Contractors and Related Industries

INTRODUCTION

The Income Tax Act 1967 had introduced the mandatory requirement by all business entities to implement the e-Invoice. The implementation of e-Invoicing is intended to support Malaysia’s digital economy growth and aims to improve the efficiency of business operation and government tax administration.

Understanding the scope of e-Invoice, the technological transmission mechanism will help taxpayer to implement the e-Invoice process more effectively. This event covers both general operational transactions and specific industries transactions for property developers, contractors and related industries.

COURSE OUTLINE

Module 1: Scope of e-Invoice

• What is e-Invoice?

• Benefits to taxpayers

• Type of transactions

• Implementation timeline

• Revenue determinant

Module 2: Type of Exemptions

• Ruler and ruling chief, consort of a ruler, and consular offices and diplomatic

• Government, state government and local authority

• Individual not doing business

Module 3: Transmission Mechanism

• MyInvois Portal

• API-Taxpayer’s system, Peppol and Middleware

Module 4: Type of e-Invoice Transactions

• Invoice

• Credit note, Debit note and Refund Note

Module 5: Required Field

• Party and contact details

• Invoice details & unique ID No.

• Product & service details

• Payment information & additional field

Module 6: General Operational Transactions

• Disbursement & reimbursement

• Perquisites and benefits

• Profit distribution and dividend

• Currency exchange rate

• Cross border transaction

• Foreign income

Module 7: Specific Industries Transactions

• Property Developers

• Contractors

• JMB/MC

• Property Investors and Agents