Malaysian e-Invoicing: The New Mandate on the Block
The Malaysian Government announced the implementation of e-invoicing as an effort to enhance the efficiency of Malaysia's tax administration management. The e-invoice system implemented will enable near real-time validation and storage of transactions, including B2B, B2C and B2G transactions.
Taxpayers in Malaysia can select between two mechanisms for e-invoice transmission - either through the MyInvois Portal manually or via an Application Programming Interface (API) which will allow for direct data transmission between taxpayers' accounting systems and the MyInvois system.
The issuance of e-invoices will be for both transactions within Malaysia as well as cross-border transactions. All taxpayers who have commercial activities in Malaysia are required to issues e-invoices regardless of their residency or industry of operation.
To ensure a smooth transition, the e-invoicing roll-out will be implemented in phases according to revenue turnover:
| Targeted taxpayers | Implementation Date |
| Annual revenue of more than RM 100 million | 1 August 2024 |
| Annual revenue of more than RM 25 million and up to RM 100 million | 1 January 2025 |
| All taxpayers | 1 July 2025 |
The Malaysian Government has published a general FAQ document to answer questions that taxpayers may have around the e-invoicing implementation. eezi-Powered by VAT IT is here to help guide you along this journey, and will be ready to assist you with Malaysian e-invoicing when the mandate affects your business.
Reach out to us today and let us help you remain compliant ahead of time.
