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.
No | Targeted Businesses | Implementation Date |
---|---|---|
1 | Taxpayers with an annual turnover or revenue of more than RM100 million | 1 August 2024 |
2 | Taxpayers with an annual turnover or revenue of more than RM25 million and up to RM100 million | 1 January 2025 |
3 | All taxpayers | 1 July 2025 |
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?
Discover the benefits of Malaysia e-invoicing with Goldsoft solutions
Integration with LHDNM Systems
Seamlessly connect with government e-invoicing platforms to ensure compliance and simplify reporting.
Customizable Invoice Templates
Design invoices that reflect your brand's identity with customizable templates and layout options.
Comprehensive Reporting
Access detailed reports and analytics to gain insights into your invoicing patterns, outstanding payments, and financial health.
Multi-Language Support
Cater to a diverse client base with support for multiple languages, ensuring clear communication and professionalism.
Video Tutorials
Our Information are as below:
Name: GOLD-CHEERS HOLDING (M) SDN BHD
BRN: 198801000293
TIN: C4850443020
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