Malaysia Takes Step Towards e-Invoicing
The Malaysian Tax Authority, the Inland Revenue Board of Malaysia/ Lembaga Hasil Dalam Negeri Malaysia (LHDN), and the Malaysian Digital Economy Corporation (MDEC) are set to introduce electronic invoicing regulations in the country by August 2024. The e-invoicing in Malaysia will be implemented in a phased manner, and it will be mandatory to generate e-invoices for B2B, B2C, and B2G. For B2G transactions.
Implementation Timeline
The planned implementation timeline for the e-invoicing system in Malaysia is as follows:
August 2024: e-invoicing for taxpayers with an annual turnover exceeding MYR 100 million.
January 2025: e-invoicing for taxpayers with an annual turnover exceeding MYR 25 million.
July 2025: e-invoicing for all other taxpayers.
Generation Process
The e-Invoices can be generated automatically via Webtel's e-Invoicing Solution in XML and JSON format. Our solution software is integrated with eInvois Portal for seamless invoice validation and generation of a Unique Identifier Number (UIN) and QR Code.
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