Mar 18 2025, 09:46 PM
QUOTE(1hoohoo1 @ Mar 17 2025, 02:34 PM)
Yes, it is e-invoice for cashback paid to cardholders and i had no issue with that. However, the statement "which includes the amount owing by cardholders as well as payment / credit to cardholders" stated more than that. If my understanding is not wrong, bank are require to include the outstanding balance cardholders owe to bank in the e-invoice as well, not only cashback.
Of course, all the transactions performed using credit card are traceable. But for me, most of my credit card transaction are to top up ewallet for the cashback or campaign cashback and with cards from multiple banks, my total "spendings" with credit card exceed my salary. With these records (total spending > salary), I can foresee every year will trigger audit from LHDN. Even though I can explain and show the records but who would like the hassle of having yearly audit with them.
And yes, I will start to reduce top up into ewallet. Credit card for actual spending only.
On the subject of eInvoicing, member - do you have in depth knowledge of how eInvoicing works as you raise this subject here in this forum ? (e.g Detailed eInvoice, consolidated eInvoicing, etc) FI regular reporting system to BNM, etc.Of course, all the transactions performed using credit card are traceable. But for me, most of my credit card transaction are to top up ewallet for the cashback or campaign cashback and with cards from multiple banks, my total "spendings" with credit card exceed my salary. With these records (total spending > salary), I can foresee every year will trigger audit from LHDN. Even though I can explain and show the records but who would like the hassle of having yearly audit with them.
And yes, I will start to reduce top up into ewallet. Credit card for actual spending only.
Clarity and accuracy of the information shared is crucial least raising unnecessary panic and anxiety among members. And there's nothing to hide if everything is in order with LHDN.
This post has been edited by hye: Mar 18 2025, 09:48 PM
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