Malaysia’s New E-Invoicing Requirements for 2024: Key Deadlines for Businesses

Malaysia has rolled out important updates to its e-invoicing requirements, and businesses need to be aware of the upcoming deadlines. Under the Income Tax (Issuance of Electronic Invoice) Rules 2024, companies with an annual turnover exceeding MYR 100 million must start issuing e-invoices by 1 October 2024. For those with turnover between MYR 25 million and MYR 100 million, the requirement kicks in on 1 January 2025, and smaller businesses must comply by 1 July 2025.

The rules don’t apply to everyone, though. Foreign diplomatic offices, individuals not engaged in business, and certain statutory bodies, among others, are exempt. However, suppliers that provide goods or services to these exempt entities must follow the e-invoicing timelines.

Failure to meet these deadlines could lead to penalties, so it's important to get on board with the changes. To make it easier for companies to transition, the Inland Revenue Board of Malaysia (IRBM) has published detailed guidelines and FAQs.

For the complete details, check the official guidelines:

• General Guidelines

• Specific Guidelines

• FAQs