- Malaysia’s new electronic invoicing mandate has improved business transaction efficiency and the country’s invoicing and taxation processes.
- To avoid rejection and cancellation, businesses transitioning to the new system must understand the e-invoicing procedure, which operates on a continuous transaction controls (CTC) model and validates invoices in real time.
- Starting June 2024, the new invoicing process will be implemented, and by July 2025, all Malaysian taxpayers must comply with the upcoming standards and transmit invoices through the new system using the MyInvois portal or an API.
Source Storecove
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
Latest Posts in "Malaysia"
- Briefing Document & Podcast: E-Invoicing in Malaysia: Scope, Regulations & Future Outlook
- Malaysia Drops High-Value Goods Tax, Applies Higher Sales Tax to Luxury Items
- Malaysia Clarifies Sales Tax Refund Procedures for Manufacturers’ Machinery and Equipment Purchases
- Malaysia Updates Indirect Tax Forms Requiring More Detailed SST-02 Return Reporting
- Malaysia 2026 Budget: Tax Exemption Extensions, New LLP Tax, Carbon Tax Introduction
