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Introduction
Companies that are above the yearly RM1 million revenue threshold could have started your e-Invoice and stamp duty journey.
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 SST and Stamp Duty).
| Module 1: Recent Updates |
| Know the rules and regulations for the below |
| – E-Invoice, e.g. the group of companies and common directors/ individual shareholders treatment |
| – Sales and service tax related to e-Invoice |
| – Stamp duty |
| -Other related legal and regulatory |
| Module 2 – E-Invoice for sales, other income, purchases and expenses post implementation review |
| Check on sales/other income items:
-E-invoice information recorded -Whether compulsory transactional e-Invoice been issued on time? -Actual usage of adjustment notes, e.g. Refund Note -Classification of refundable and non-refundable deposits -Foreign income e-invoice content -PDPA for personal information collected (e.g. retail and service industry) Analyse 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.
-Self-billed items, checking on the details, timing and others -Overseas services consumed in Malaysia -Check on staff claims, whether any expenses which require transactional e-Invoice -Gap analysis and identify areas for improvement |
| Module 3- Identify SST High Risk Non-Compliance Transactions
-Identify the SST matters arising, current practice and risks areas -Documentation and evidence of proof -Gap analysis and identified for areas for improvement -Identify the potential back taxes and/or penalties for non-compliance |
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Module 4-Stamp duty |
| -Service providers and vendors’ instruments
-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 areas for improvement – Q&A |