Malaysia’s Inland Revenue Board (Lembaga Hasil Dalam Negeri Malaysia - HASiL) has announced the rollout of ‘e-invoice’ as part of the government’s initiative towards advancing Malaysia’s digital landscape. The implementation is done in stages from August 2024, with the first being made mandatory for businesses with a yearly turnover of over RM100 million and targeted timeline of mandatory adoption for all businesses by July 2025.

To support you through the changes, ACCA Malaysia is pleased to host a webinar titled "Post Implementation of e-Invoicing in Malaysia: Challenges Faced By Businesses and What's Next", where we'll dive into:

• Issues faced by businesses post-rollout
• Server performance issues and system downtime experienced during the initial rollout
• Insights into the 6-month relaxation period – what happens after?
• Is e-invoicing a business cost or a growth opportunity?

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Join this exclusive webinar designed that aims to empower audit practitioners and accounting professionals in Malaysia as they navigate the recent audit exemption changes. This comprehensive session will provide invaluable insights, strategies, and practical tools to help you adapt and thrive in a rapidly evolving regulatory landscape.

Key highlights of the webinar:

• Regulatory landscape: an overview of Malaysia’s audit exemption changes, along with their implications for small and medium-sized audit practices.
• Diversifying services: explore opportunities to expand your service offerings beyond audits
• Global insights: gain perspectives from leading experts across multiple jurisdictions, including Ireland and Singapore, as they share their successful strategies in adapting to similar regulatory changes.

This webinar will equip you with the knowledge to confidently navigate the audit exemption changes, diversify your practice, and position your firm for sustained growth and success in the years to come.

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The Inland Revenue Board Malaysia (Lembaga Hasil Dalam Negeri Malaysia - LHDNM) has announced the rollout of ‘e-invoice’ as part of the government’s initiative towards advancing Malaysia’s digital landscape. The implementation will be done in stages from August 2024, with the first being made mandatory for businesses with a yearly turnover of over RM100 million and targeted timeline of mandatory adoption for all businesses by July 2025.

Join us for this complimentary webinar featuring representatives from LHDNM and MDEC to obtain more information and clarification on the ‘e-invoice’ system and its’ implementation. The webinar will also help businesses understand various systems and processes, enabling them to determine the most effective, efficient, and practical way of meeting this regulatory requirement.

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Malaysia has introduced a new tax on capital gains, termed as Capital Gains Tax (CGT) during the year 2024. CGT on disposal of foreign assets is effective from 1st January 2024, while CGT on the disposal of domestic assets is exempted up to 29th February.

The tax rate for CGT varies from 2% to 24%, depending on the type of transaction and whether transitional provisions apply. The scope of CGT, in some cases, are much wider than gains from sale of unlisted shares. For example, capital reduction exercise is subject to CGT.

Further, disposal of shares of companies listed outside of Malaysia is subject to Malaysian CGT particularly if the disposer is tax resident in Malaysia. Disposal of real property situation overseas is also subject to CGT in Malaysia if the disposer is tax resident in Malaysia.

Learning Outcomes:

1. Gain comprehensive insights into the background and key driving factors behind the implementation of Capital Gains Tax (CGT).

2. Acquire a thorough understanding of the distinctions involved in comparing CGT implications on both foreign and domestic transactions.

3. Understanding the exemptions under domestic tax law and double tax agreements.

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