- Malaysia’s Inland Revenue Board (IRBM) will begin the second phase of its e-invoicing mandate on January 1, 2025, targeting companies with annual turnovers between RM 25 million and 100 million (approximately 5-20 million euros).
- Affected businesses must submit e-invoices using Universal Business Language (UBL2.1) in XML or JSON formats, covering e-invoices, credit notes, debit notes, and refund e-invoices.
- Businesses can submit e-invoices via the MyInvois Portal for smaller operations or the MyInvois System (API) for larger companies, though the latter may require technology investments and system upgrades.
- A grace period from January 1 to June 30, 2025, allows for adjusted compliance, but penalties for non-compliance will start from July 1, 2025.
- Peppol-accredited providers, such as Pagero, in collaboration with the Malaysian Digital Economy Corporation (MDEC), are supporting businesses in e-invoicing compliance and refining e-invoicing processes nationwide.
Source Comarch
Click on the logo to visit the website
