Malaysia delays B2B e-invoicing to August 2024

The Malaysian 2024 Budget has included a revised timetable for implementing the mandatory e-invoicing regime, including a two-month delay from the previous timetable. 

The new schedule is as follows:

• From Aug 1st, 2024, taxpayers with an annual turnover of MYR 100 million and above must comply with the electronic invoicing regime.
• From Jul 1st, 2025, electronic invoicing will be mandatory for all other taxpayers in phases (dates to be confirmed), with the goal of completing all phases by 2027.
• The implementation of B2C transactions via e-Receipt live digital reporting is yet to be confirmed.

Additionally, Malaysia’s Inland Revenue Board (IRBM) recently published three useful guides with further details on how e-invoicing will work in the country: e-invoice guideline (Version 2.0), e-invoice specific guideline (Version 1.0), and comprehensive data catalogue.