E-Invoicing: Is Your Business Ready for New Regulations?

INTRODUCTION

With a dynamic economy and for tax revenue control purposes, replacing paper invoicing with e-invoicing is now going to be mandatory in Malaysia by 2027. This webinar will provide you with an understanding of the compliance requirements and the implications on the implementers. The latest e-invoicing guidelines will also be covered.

COURSE OUTLINE

Session 1:

• Is your business ready for the new e-invoicing regulations?

• What is e-invoicing?

• Discuss e-invoicing requirements based on IRB’s e-invoicing guidelines

Session 2:

• Concept and procedure of e-invoicing and invoice workflow

• Issuance of e-invoice

• Validation of e-invoice

• Notification of validated e-invoice

• Sharing of e-invoice

• Rejection or cancellation of e-invoice

Session 3:

• Check e-invoice via MyInvois Portal

• What is the impact on your business and how to manage the conversion process when moving to e-invoice conversion?

• How e-invoicing affects your accounting and tax compliance

PROFILE(s)

Yong Mei Sim has served over 35 years in the Inland Revenue Board of Malaysia (“IRB”) and held the last position as the Principal Assistant Director of the Penang branch, before retiring in 2016. She obtained a Bachelor of Science Degree majoring in Economics with a Second Class Upper from the University Science of Malaysia in Penang. She was later awarded the prestigious JPA scholarship to pursue and successfully completed her Master’s of Science in Taxation from the Golden Gate University in San Francisco, USA. During her tenure in office, she has been, inter alia, an audit manager in charge of the Payroll Taxes Unit, Field Audit and Desk Audit Unit. She had actively assisted the Federal Councils of the IRB in handling tax litigation cases. Among the landmark tax litigation cases which she was directly involved are ICTSB vs DGIR, PSSB vs DGIR and Marigold (M) Sdn Bhd vs DGIR. With her vast knowledge and experience in the field of Malaysian taxation, she has been invited by the IRB and other professional bodies to speak extensively around the country and to share her valuable experience and expertise on income tax updates and all other relevant taxation matters.