- The new e-invoicing system and guidelines in Malaysia aim to improve business operations and reduce costs associated with paper, printing, and postage for invoices.
- The implementation of the system will begin on 1 August 2024 for businesses with an annual turnover of RM 100 million and will be completed on 1 July 2025 for all taxpayers.
- The system features a continuous transaction control (CTC) model, allowing real-time validation of transactions by the Inland Revenue Board of Malaysia, resulting in quicker invoice validation and faster payments. Proper e-invoicing implementation can provide benefits such as tax compliance and improved efficiency for businesses.
Source Storecove
- See also
- Join the Linkedin Group on Global E-Invoicing/E-Reporting/SAF-T Developments, click HERE
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