- Malaysia has formalized rules for converting foreign currency amounts to Malaysian Ringgit (MYR) on service and sales tax invoices, effective 31 March 2026.
- Invoices in foreign currency must also state amounts in MYR, using exchange rates from approved sources such as Bank Negara Malaysia, commercial banks, or recognized international agencies.
- The chosen exchange rate source must be used consistently for at least one year; changes require written approval from Customs authorities.
- For imported goods, the customs-set selling rate at import applies; for imported taxable services, the prevailing selling rate in Malaysia at the time of service applies.
Source: docnova.ai
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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