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Implementation of E-Invoicing in Malaysia

To support the growth of the digital economy, the Government intends to implement e-Invoice in stages in an effort to enhance the efficiency of Malaysia's tax administration management. This is in line with the Twelfth Malaysia Plan, where one of the key focus is on strengthening the digital services infrastructure and digitalising the tax administration.

The e-Invoice will enable near real-time validation and storage of transactions, catering to Business-to-Business (B2B), Business-to-Consumer (B2C) and Business-to-Government (B2G) transactions.

Malaysian Government's E-Invoicing Mandate

Starting August 2024, the Malaysian Government, through LHDNM, will enforce mandatory e-invoicing for businesses with an annual turnover or revenue exceeding RM100 million. This initiative aims to streamline tax processes, improve compliance, and reduce fraud.

Who is Affected?

All businesses involved in commercial activities in Malaysia must adhere to the e-Invoice regulations. Any invoices generated and issued after the implementation date must meet the Inland Revenue Board of Malaysia (IRBM) e-invoice standards. Invoices issued before this date are not required to be converted into e-invoices.

Benefits of E-Invoicing

To support the growth of the digital economy, the Government intends to implement e-Invoice in stages in an effort to enhance the efficiency of Malaysia's tax administration management. This is in line with the Twelfth Malaysia Plan, where one of the key focus is on strengthening the digital services infrastructure and digitalising the tax administration.

Why SenangAkaun Accounting System?

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