General Information
- e-Invoice Definition: A digital, structured, machine-readable transaction file between a supplier and a buyer, acceptable in XML or JSON format.
- Transmission Mechanisms: Via MyInvois Portal or API, ensuring no duplication.
- Tax Compliance: Taxpayers can claim deductions without e-Invoice until legislation changes.
Applicability
- Scope: Applicable to both domestic and cross-border transactions.
- Mandatory Implementation: Phased timeline based on turnover:
- RM100 million: 1 Aug 2024
- RM25 million and <=RM100 million: 1 Jan 2025
- RM500,000 and <=RM25 million: 1 Jul 2025
- <=RM500,000: 1 Jan 2026
- Exemptions: Specific industries and transactions as detailed in the guidelines.
Support and Assistance
- Preparation: Businesses should focus on human resources, business processes, and technology.
- Engagement: IRBM conducts engagement sessions with stakeholders.
- Incentives: Tax deductions for MSMEs on e-Invoice implementation-related expenditures.
Scope and Process
- Currency: e-Invoices can be in any currency.
- Self-billed e-Invoice: Allowed in specific scenarios.
- Validation: Near real-time validation by IRBM.
- Adjustments: Allowed within 72 hours; otherwise, a new e-Invoice must be issued.
e-Invoice for MSMEs
- Requirements: All businesses must implement e-Invoice unless exempted (annual turnover < RM150,000).
- Implementation: Based on turnover, with specific guidelines for multiple businesses owned by a sole proprietor.
Interim Relaxation Period
- Relaxation: Six-month period applicable to all phases, with specific monthly issuance requirements for consolidated e-Invoices.
Systems, Data Security, and Privacy
- API and Portal: MyInvois Portal and API support both individual and batch submissions.
- Security: Complies with relevant Malaysian data protection laws and international standards (ISO/IEC 27001 and ISO 22301).
Source gov.my
