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According to Inland Revenue Board Malaysia (LHDN), Malaysia will gradually implement e-invoicing from 2024.
At Onnet Consulting, we're excited to announce that we are rolling out a full integration of Malaysia e-Invoicing system into Odoo, covering versions from 8th to the latest, set to launch in Q2 2024 in phased manner!
Leveraging our in-depth understanding of Malaysian business needs and regulations, our localized e-invoicing solution guarantees full compliance with IRBM guidelines. Here, we confidently affirm that Malaysian businesses smoothly transition from paper-based invoicing to e-invoicing.
Mandatory e-Invoicing in Malaysia
Overview of e-Invoicing
Aligning with the global trend, integrating technology into tax administration management is inevitable. With that, Malaysian government kickstarts e-invoicing in phases with the goal of improving tax compliance through digitalization.
About e-Invoicing
e-Invoice refers to the delivery of invoices from seller to buyer in a unified digital format, replacing paper invoice and PDF invoice.
e-Invoice Implementation Timeline
August 2024: Companies with annual turnover beyond RM100 million
January 2025: Companies with annual turnover beyond RM25 million
July 2025: All companies
Benefits of e-Invoicing
After e-invoicing, taxpayers no longer have to keep hard copies of invoices, vouchers, and receipts for 7 years. All taxpayers can access your invoice history via the portal in real time.
e-Invoice Transmission Mechanisms
Taxpayers can choose MyInvois Portal or Application Programming Interface (API) to send e-Invoice to IRBM, based on their business needs.
*Read e-Invoice Guideline to understand the concept of e-Invoice implementation in more details.
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