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Key Updates in E-Invoice Guideline (Version 3.2)
✅Interim Relaxation Period: Six-month relaxation from the mandatory e-Invoice implementation date for each phase. ✅ Consolidated e-Invoices: Allowed for all transactions, including self-billed, during the relaxation period. ✅ Description Field Flexibility: More leniency in the “Description of Product or Service” field during the relaxation period. ✅ No Individual e-Invoices Required: Not obligated to issue individual…
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Common Bookkeeping Mistakes : Lessons from 35 Years of Auditing
Bookkeeping might seem straightforward, but my 35 years of auditing in Malaysia have shown otherwise. In Johor Bahru, the quality of accounting done by in-house personnel or outsourced third parties has been on a worrying decline, aggravated by the difficulty in recruiting skilled accounting staff. Here are some common mistakes and the lessons we can…
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Who Am I?
Dear Colleagues I don’t handle interviews anymore; my HR manager and audit/tax managers take care of that now. Imagine my surprise when I bumped into a new intern in the common area on her first day of working. I greeted her with a “Good morning” and asked, “Do you know who I am?” To my…
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(Tax Update) E-Invoicing: Grace Period for 6 Months
The IRB has announced key concessions on e-invoicing to support taxpayers. Highlights include: ✅Consolidated E-Invoicing Allowed: All industries can issue consolidated e-invoices, even for importation of goods and services. ✅Flexible Descriptions: Any description can be used in the product/service field. ✅Grace Period: No prosecution for non-compliance from August 2024 to January 2025 if consolidated e-invoicing…
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What Is The First Question Clients Ask?
Last month, during a routine onboarding session at KTP, I posed a question to our newest team members – experienced professionals who had joined us from other firms. “What is the first question most clients ask at the first meeting?” The room fell silent, filled with thoughtful nods but no spoken answers. I clarified for…
