- Targeted Rollout for Medium-Sized Businesses: The Inland Revenue Board of Malaysia (IRBM) is launching the second phase of its e-invoicing mandate on January 1, 2025, focusing on medium-sized businesses with annual turnovers between RM25 million and RM100 million.
- E-Invoicing Requirements: Affected businesses must submit e-invoices, including credit, debit, and refund invoices, in UBL2.1 format using XML or JSON. Submissions can be made through the MyInvois portal or the MyInvois API, which may require significant technology upgrades.
- Grace Period and Compliance Timeline: A grace period from January 1 to June 30, 2025, will be in place during which penalties for non-compliance will not apply, with full compliance becoming mandatory by July 1, 2025.
Source SNI
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