(5 Student Attended)

Interconnected Regulatory Obligations: How It Impacts Your Business Survival In The E-Invoice Era

Categories: Income Tax
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Introduction

In the past, a company could fix a “Tax problem” without ever worrying about “data problem”, those days are over. Today, companies can no longer view these as separate issues. We have entered an era of interconnected regulatory obligation, where data obtained from one source (e.g., e-Invoice) can instantly trigger compliance flags in another (such as Stamp Duty, Service Tax, or PDPA).

The government is moving toward highly digital visibility, effectively ending the history of hidden transactions. The key tool for this dragnet is e-Invoicing, a real-time tax declaration system that began implementation in 2024. It serves as the digital backbone that connects every transaction to the broader compliance boundary.

What Will You Learn?

  • o Use the copyright tool to identify, assess and look for solutions for matters arising
  • o Address the urgent and important compliance matters to the senior management
  • o Assess the gap between current practice and regulatory requirements
  • o Plan for resources to achieve the compliance goal

Module 1: Introduction to 11 pertinent compliance areas
Know the rules and regulations for the following:
-E-Invoice (post implementation review)
-Withholding tax
-Transfer pricing assessment
-Stamp duty
-SST
-Statutory reporting
-Other legal and regulatory
-Human Resource Department new compliance requirements -e.g. GIG and PDPA
Identify the potential penalty for non-compliance

Module 2 – Sales and Income
Three sales and income items which is crucial to comply with the 11 areas in Module 1
-Identify the matters arising, current practice and risk areas
-Collect documentation and evidence of proof
-Checked by whom and approval level
-Gap analysis and area of improvements

Module 3 – Financial Position
Two Financial Position Statement items that are crucial to comply with the 11 areas in Module 1
-Purchase of PPE
-Deposits received

Module 4-Purchases/expenses
Nine purchase/expenses items which are crucial to comply with the 11 areas in Module 1
-Commission to agents, rental and utility expenses, runner fee, importation of goods and services, foreign workers and etc.
– Q&A