- The e-invoicing revolution is coming soon, with mandatory implementation for taxpayers earning over RM100 million annually by August 1, 2024.
- The rollout will occur in stages, aiming for full compliance by July 1, 2025.
- The model is the Centralized Pre-Clearance CTC Electronic Invoicing, and it involves issuance, validation, and notifications.
- A Unique Identifier Number from the Inland Revenue Board (IRBM) is required.
- Important dates include January 1, 2025, for those with an annual turnover exceeding 25 million MYR, and 2027 when e-invoicing becomes mandatory for all taxpayers.
- Real-time validation by IRBM and choosing the right integration model are key technical requirements.
- Updated guidelines cover exemptions, use cases, and a catalog of codes for e-invoicing purposes.
- Malaysia’s e-invoicing mandate brings phased implementation, specific tech/legal requirements, and different compliance dates tied to annual income/sales.
Source Taxera
- See also Worldwide Upcoming E-Invoicing mandates, implementations and changes – Chronological
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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