As part of the Malaysian government’s effort in improving the efficiency of the country’s tax administration, the Income Tax (Issuance of Electronic Invoice) Rules 2024 [P.U.(A) 265] was gazetted on 30 September 2024 and provides that any person who carries out a transaction in respect of any goods sold or services performed is required to issue electronic invoices (i.e. e-Invoices).
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FAQs
1. What is e-Invoice?
An e-Invoice is a digital representation of a transaction between a supplier and a buyer. It replaces paper invoices by enabling businesses to generate machine-readable and digitised versions of invoices in a structured format, typically in XML or JSON format, as specified by the Inland Revenue Board (“IRB”).
2. What is the e-Invoicing Implementation Timeline in Malaysia?
The IRB has announced a phased implementation of e-Invoicing starting from 1 August 2024, gradually extending to all businesses with annual turnover or revenue above RM1 million.
3. What are e-Invoicing Transaction Types?
e-Invoicing applies to all persons in Malaysia and covers transaction types such as Business-to-Business (“B2B”), Business-to-Consumer (“B2C”) and Business-to-Government (“B2G”) transactions.
Key Requirements of an e-Invoice
- Created in structured digital formats like XML or JSON format
- 55 data fields (mandatory and optional) covering various details such as the supplier’s information, buyer’s information, products or services details, payment details, etc
- Near real-time validation and storage of transactions
- Unique Identifier Number to be assigned by the IRB to the validated e-Invoice
4. What WorldFirst Needs from You
To help us issue an accurate e-Invoice to you and comply with the e-Invoice requirements in Malaysia, please provide your details and relevant information through our information collection form.
It is your responsibility to ensure information provided is complete and accurate for timely receipt of your e-Invoices. If the above information is inaccurate, incomplete, or not provided to us, we will not be able to issue an e-Invoice to you for the relevant transaction(s).
Note: Under the IRB’s e-Invoice Specific Guideline, any single transaction exceeding RM10,000 in value requires an individual e-Invoice to be issued, effective from 1 January 2026, across all industries and sectors.
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