- Wholesalers and retailers of construction materials in Malaysia can now issue consolidated e-invoices, lifting previous restrictions.
- Small businesses with annual turnover up to RM5 million have an extended grace period for e-invoicing compliance, with no penalties until December 31, 2026, if transitioning to the MyInvois system.
- During the grace period, businesses can use consolidated invoicing for all transactions, enter flexible product/service descriptions, and issue consolidated self-billed e-invoices.
- The IRBM will not prosecute non-compliance during this period as long as businesses are making efforts to comply.
Source: comarch.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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