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Introduction
Manufacturing and processing based companies could have started your e-Invoice journey last year and sales tax long ago.
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.
Hence, we have entered an era of interconnected risks, where data obtained from one source (e.g., e-Invoice) can instantly trigger compliance flags in another (such as Stamp Duty and Sales Tax).
Module 1: Recent Updates
Know the rules and regulations for the below
– E-Invoice
– Sales tax
-Stamp duty
-Other related legal and regulatory
Module 2 – E-Invoice for purchases and expenses post implementation review
Explore sales/other income items
-Invoice information and PDPA for personal information collected
-Self-billed items checking on the details, timing and others
Explore purchase/expenses items
-Check on suppliers/vendors e-invoice on commission to agents, rental and utility expenses, runner fee, importation of goods and services, foreign workers and etc.
-Check on staff claims, whether any expenses which require e-Invoice
-Gap analysis and identify for areas of improvements
Module 3- Identify Sales Tax High Non-Compliance Risks Transactions
-Identify the matters arising, current practice and risks areas
-Documentation and evidence of proof
-Gap analysis and identified for areas of improvements’
-Identify the potential back taxes and/or penalty for non-compliance
Module 4-Stamp duty
-Stamp duty paid correctly? E.g. Ad Volerum or fixed rate
-Timing of stamping
-Document evidence that required from other parties obtained?
-Gap analysis and identify for areas of improvements
– Q&A