E-INVOICING ESSENTIALS FOR BOARD DIRECTORS: NAVIGATING THE NEW COMPLIANCE LANDSCAPE

Did you know that all directors of companies who are in receipt of directors fee in excess of RM150K per annum will be required to file an e-invoice, in respect of the fee earned by them? This requirement will be either in the form of the issuance of separate e-invoices to the companies from which they receive the fees or through the filing of a consolidated monthly e-invoice (7 days after the end of each month) to IRBM. However, these invoices cannot be issued by the director to the company until the required data (37 - 40 data fields) have been validated by IRBM.

This programme aims to provide an overview to Board Directors on their obligation to issue e-invoices on their directors fee and guidance on the necessary steps required to effectively implement and manage the E-Invoicing process for their respective organizations. The session is designed to ensure Directors understand the intricacies of the E-Invoicing processes, its scope, and practical issues they may encounter during the implementation stage. In the ever-evolving corporate landscape in Malaysia, this session will combine expert insights, practical examples, and interactive discussions to empower directors with the knowledge and tools to navigate E-Invoicing requirements effectively.

Content to be covered

1. Outline of the scope and applicability of E-Invoicing
2. Requirement of data filing for reporting of directors remuneration through E-Invoicing
3. Transmission mode of data for E-Invoice submission & Options available for filing of data
4. The type of income earned by directors must be reported through the submission of the E-Invoicing
5. Immediate Action Steps for Directors
6. Question and Answer Session

Learning Outcomes

• Understand the scope and applicability of E-Invoicing requirements for Board Directors in Malaysia.
• Gain practical knowledge of the necessary data fields and filing options for reporting directors remuneration through E-Invoice.
• Effectively implement and manage E-Invoicing processes within their organizations to ensure compliance with regulatory requirements.