- Malaysia’s B2B e-invoicing clearance mandate is now fully in effect.
- Businesses must use a compliant e-invoicing provider connected to MyInvois or connect directly to it.
- The mandate aims to enhance tax transparency, reduce fraud, and improve efficiency in financial reporting.
- The first phase of the mandate targeted large businesses with an annual turnover exceeding RM100 million.
- The second phase of the mandate, starting January 1, 2025, requires medium-sized businesses with an annual turnover between RM25 million and RM100 million to comply.
- The third phase, concerning small and medium businesses, has been postponed to January 1, 2026.
- All businesses doing business in Malaysia will need to be compliant, connect to MyInvois, and clear their e-invoices.
Source: tradeshift.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
