E-Invoicing in Malaysia

In 2024, Malaysia will make electronic invoicing mandatory!

Away August 2024 Malaysia will implement e-invoicing, starting with businesses with an annual turnover of MYR 100 million or more. This project is led by the Malaysian tax authority, the Inland Revenue Board, and the Malaysian Digital Economy Corporation (MDEC). Here are the key information and steps to implement e-invoicing in Malaysia.

Timeframe

August 2024: Electronic invoicing is applicable to companies with an annual turnover of at least MYR 100 million.

January 2025: E-invoicing will become mandatory for businesses with an annual turnover of more than MYR 25 million and up to MYR 100 million.

July 2025: Electronic invoicing becomes mandatory for all other taxpayers (B2G, B2B, B2C).

applicability

The e-invoice primarily covers Business-to-Business (B2B), Business-to-Consumer (B2C) and Business-to-Government (B2G) transactions from

format

XML or JSON format.

Electronic signature

Electronic signatures are mandatory.

Archiving

E-invoices must 7 years be archived.


How e-invoicing works

  • A “Clearance model” is introduced, where every invoice is sent to the IRBM Portal and is provided with a unique invoice number and a QR code.
  • Each invoice can be sent via the MyInvois portal or other external software.
  • Once the invoice has been validated, both the invoice issuer and the recipient are notified and the invoice can be sent to the recipient.
  • A limited time period is set for cancellation or rejection of invoices.
  • The clearance model extends on invoices as well as debit and credit notes.
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Further information
https://www.hasil.gov.my/en/e-invoice/


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GOpus® eInvoice

Our GOpus® eInvoice The solution can be integrated into SAP ERP and SAP S/4HANA and supports the creation of outgoing e-invoices in all international country formats. In this way, all your invoice contents can be created and sent between different international invoice issuers and recipients directly from your SAP system and all invoice documents can be archived in comprehensive monitoring. Integration into the SAP modules SD, FI, IS-H, IS-U and SAP Service Invoicing is possible. Further integrations are available on request.


Do you have any further questions about our solution or would you like to obtain more detailed information about the e-invoicing regulations in Malaysia?

We have made the guideline for e-invoicing in Malaysia available for you in German and English and are personally available to assist you with any further questions you may have about our solution.

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