HomeBlogNewsExciting News for Malaysian Businesses: Major e-Invoicing Update

Exciting News for Malaysian Businesses: Major e-Invoicing Update

We’re thrilled to announce the latest advancements in Malaysia’s e-Invoicing system, a pivotal move by the Inland Revenue Board of Malaysia (IRBM) to streamline tax administration and support digital economic growth. Here’s what you need to know:

SDK Beta Release: The IRBM has launched the e-Invoice Software Development Kit (SDK) Beta Version, offering a comprehensive suite of tools and APIs for seamless integration with the MyInvois System.

Updated e-Invoicing Guidelines: The new e-Invoice Guideline (Version 2.0), issued on 29 September 2023, replaces the initial version and sets forth an updated phased implementation timeline, beginning with businesses having an annual turnover of RM100 million or more, now slated for 1 August 2024.

Flexible Transmission Mechanisms: Businesses can choose between the MyInvois Portal or an API for e-Invoice transmission, with options for direct ERP system integration, Peppol service providers, or non-Peppol technology providers.

Revised Implementation Timeline: Following Malaysia’s Budget 2024 announcements, the IRBM has extended deadlines, offering businesses ample time to adapt and integrate e-Invoicing seamlessly into their operations.

This is a significant step towards modernizing business practices and enhancing efficiency. Businesses of all sizes should start preparing for this transition, ensuring they leverage the benefits of the updated e-invoicing system.

Software Development Kit: https://sdk.myinvois.hasil.gov.my/

Guideline: https://www.hasil.gov.my/en/e-invoice/

Stay ahead, stay informed, and let’s embrace the digital future of tax compliance together!

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