e-Invoice

With the gradual implementation of e-invoicing by the Inland Revenue Board of Malaysia / Lembaga Hasil Dalam Negeri (IRBM), businesses across the country are adapting to a digital invoicing system.  This shift promises benefits such as improved efficiency and compliance but also presents several challenges. This article outlines common issues…

Malaysia is moving towards implementing e-invoicing to streamline invoicing processes, enhance tax compliance, and support the digital economy. This article provides a comprehensive overview of e-invoicing FAQs, exemptions, and technical aspects, helping Small and Medium Enterprises (SMEs) and Multinational Corporations (MNCs) prepare for this significant transition. Table of Contents Key…

What Is a Consolidated e-invoice? To assist the Suppliers in complying with e-Invoice requirements and to reduce the burden to both Suppliers and Buyers, the Inland Revenue Board (IRB) allows the Suppliers to consolidate the transactions with Buyers (who do not require an e-Invoice) into a consolidated e-Invoice on a…

What is MyTax and MyInvois Portal Testing Environment? In recent years, Malaysia has been advancing its digital economy through various initiatives, one of which is the e-invoicing implementation. Starting August 2024, e-invoicing will become mandatory for businesses with an annual turnover exceeding RM100 million, and is now required by law,…

What is MyTax and MyInvois Portal Testing Environment? The MyTax and MyInvois Portal Testing Environments are crucial tools for taxpayers looking to familiarize themselves with Malaysia’s digital tax systems without affecting their actual data. The MyTax Portal Testing Environment provides a safe space to explore the features and functionalities of…

In recent years, Malaysia has made significant strides in modernizing its tax administration system. One of the pivotal steps in this direction is the introduction of e-invoicing. The implementation of e-invoicing in Malaysia is now required by law, as mandated by the regulations issued by the Inland Revenue Board of…

The government has introduced self-billed e-invoices as part of its e-invoicing system. Self-billed e-invoices redefine the roles of suppliers and buyers in the e-invoicing process. It revolutionizes the conventional e-invoicing process by allowing buyers to take on the role of suppliers, issuing e-invoices on behalf of the suppliers. This article…

When stepping into the e-invoicing era, businesses must familiarise themselves with various types of e-invoices and understand which types of transactions or situations call for which types of e-invoices. There are several types of e-invoices available, such as normal e-invoices and consolidated e-invoices. Businesses must be able to identify and…

How to manage e-invoicing in the MyInvois portal effectively? In the era of e-invoicing, there is a transformative shift in how invoices are created, shared, and stored. Whether as a business entity or an individual taxpayer, it is crucial to ensure a successful transition to e-invoicing. There were two mechanisms…